Day by day Pivots: (S1) 0.6521; (P) 0.6550; (R1) 0.6578; Extra…
AUD/USD’s restoration from 0.6442 extends greater, however upside remains to be capped effectively beneath 0.6621 resistance. Intraday bias stays impartial and additional decline is in favor. Beneath 0.6520 minor assist will flip bias to the draw back for retesting 0.6442 first. Agency break there’ll resume the the decline from 0.6870 in the direction of 0.6269 low. However, contemplating bullish convergence situation in 4H MACD, decisive break of 0.6621 will flip close to time period outlook bullish for 0.6870 resistance as an alternative.
.
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. Total, sideway buying and selling might 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.
