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AUD/USD Day by day Report


Day by day Pivots: (S1) 0.6449; (P) 0.6484; (R1) 0.6547; Extra…

Intraday bias in AUD/USD is turned impartial first with as we speak’s steep retreat. For now, one other rise will stay mildly in favor so long as 0.6411 minor help holds. Sustained break of 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) will argue that entire decline from 0.7156 may be accomplished with three waves right down to 0.6269. Stronger rally ought to then be seen to medium time period development line resistance (now at 0.6700). Nevertheless, agency break of 0.6411 will point out rejection by 0.6510, and switch bias again to the draw back for retesting 0.6269 low.

Within the larger image, there isn’t any affirmation that down development from 0.8006 (2021 excessive) has accomplished. Whereas present rebound from 0.6269 would possibly lengthen greater, 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.

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