Each day Pivots: (S1) 0.6497; (P) 0.6516; (R1) 0.6544; Extra…
AUD/USD is extending the consolidation from 0.6468 and intraday bias stays impartial for the second. Whereas stronger restoration can’t be dominated out, outlook will stay bearish so long as 0.6621 resistance holds. Break of 0.6468 will resume the decline from 0.6870 to 61.8% projection of 0.6870 to 0.6524 from 0.6621 at 0.6407.
Within the greater image, value 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 may 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.
