AUD/USD stays in consolidation above 0.6356 final week and outlook is unchanged. Preliminary bias stays impartial this week first. Additional decline is predicted so long as 0.6520 resistance holds. Break of 0.6356 will resume bigger down development to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195.
Within the larger image, down development from 0.8006 (2021 excessive) is presumably nonetheless in progress. Decisive break of 0.6169 will goal 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This can now stay the favored case so long as 0.6894, in case of sturdy rebound.
In the long run image, whereas fall from 0.8006 may lengthen decrease, the construction argues that it’s merely a correction to rise from 0.5506 (2020 low). In case of draw back extension, sturdy help ought to emerge above 0.5506 to deliver reversal. However nonetheless, momentum of the subsequent transfer will probably be monitored to regulate the evaluation.
