Each day Pivots: (S1) 0.6517; (P) 0.6541; (R1) 0.6581; Extra…
AUD/USD rises additional to 0.6585 as far as rally from 0.6269 continues at the moment. Intraday bias stays on the upside at this level. Present growth argues that complete decline from 0.7156 has accomplished with three waves right down to 0.6269. Additional rally must be seen to falling channel resistance (now at 0.6676) subsequent. On the draw back, beneath 0.6533 minor assist will flip intraday bias impartial first. However threat will keep on the upside so long as 0.6451 assist holds.
Within the greater image, there isn’t any affirmation that down pattern from 0.8006 (2021 excessive) has accomplished. Whereas present rebound from 0.6269 would possibly lengthen larger, it may very well be the third leg of the corrective sample from 0.6169 (2022 low) solely. For now, medium time period bearishness will stay so long as 0.6894 resistance holds.
