Day by day Pivots: (S1) 0.6492; (P) 0.6508; (R1) 0.6534; Extra….
Intraday bias in AUD/USD is turned impartial once more with present restoration. For now, danger will keep on the draw back so long as 0.6538 minor resistance holds. Beneath 0.6480 will goal 0.6442 assist. Agency break there’ll resume entire decline from 0.6870 and goal 61.8% projection of 0.6870 to 0.6442 from 0.6666 at 0.6401. Nonetheless, break of 0.6538 will delay the bearish case, and switch bias to the upside for stronger rebound.
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 might proceed in vary of 0.6169/7156 for some extra time. However so long as 0.7156 holds, an eventual draw back breakout can be mildly in favor.
