Day by day Pivots: (S1) 0.6419; (P) 0.6478; (R1) 0.6514; Extra…
AUD/USD’s decline from 0.6870 resumed by breaking 0.6468 assist. Intraday bias is again on the draw back for 61.8% projection of 0.6870 to 0.6524 from 0.6621 at 0.6407. Agency break there’ll goal 100% projection at 0.6275, which is near 0.6269 assist. On the upside, 0.6542 resistance is required to point brief time period bottoming. In any other case, outlook will keep bearish in case of restoration.
Within the greater image, worth actions from 0.6169 (2022 low) are seen as a medium time period corrective sample to the down development from 0.8006 (2021 excessive). Fall from 0.7156 (2023 excessive) is seen because the second leg, which could nonetheless be in progress. General, sideway buying and selling may proceed in vary of 0.6169/7156 for some extra time. However so long as 0.7156 holds, an eventual draw back breakout could be mildly in favor.
