Each day Pivots: (S1) 0.6449; (P) 0.6484; (R1) 0.6547; Extra…
Intraday bias in AUD/USD stays on the upside for the second. Sustained break of 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) will argue that complete decline from 0.7156 is likely to be accomplished with three waves all the way down to 0.6269. Stronger rally ought to then be seen to medium time period pattern line resistance (now at 0.6708). In the meantime, rejection by 0.6510 will retain close to time period bearishness.
Within the greater image, there is no such thing as a affirmation that down pattern from 0.8006 (2021 excessive) has accomplished. Whereas present rebound from 0.6269 may prolong increased, it might be the third leg of a corrective sample from 0.6169 (2022 low) solely. For now, medium time period bearishness will stay so long as 0.6894 resistance holds.
