Day by day Pivots: (S1) 0.6710; (P) 0.6733; (R1) 0.6776; Extra…
AUD/USD’s rebound from 0.6572 extends increased at this time, however stays beneath 0.6804 resistance. Intraday bias stays impartial at this level. Close to time period outlook additionally stays bearish so long as 0.6804 resistance holds, and down development resumption via 0.6563 low is in favor at a later stage. Beneath 0.6689 minor assist will deliver retest of 0.6563 low. Nonetheless, sustained break of 0.6804 ought to point out completion of complete fall from 0.7156, and switch close to time period outlook bullish for retesting this excessive as a substitute.
Within the larger image, so long as 61.8% retracement of 0.6169 to 0.7156 at 0.6546 holds, the decline from 0.7156 is seen as a correction to rally from 0.6169 (2022 low) solely. One other rise ought to nonetheless be seen via 0.7156 at a later stage. Nonetheless, sustained break of 0.6546 will increase the possibility of long run down development resumption via 0.6169 low.
