AUD/USD’s decline from 0.7156 resumed by breaking through 0.6563 support last week. A temporary low was formed after falling to 0.6489. Initial bias is neutral this week for some consolidations first. Upside of recovery should be limited by 0.6604 support turned resistance to bring another decline. Break of 0.6489 will target 61.8% projection of 0.7156
AUDUSD Outlook
Daily Pivots: (S1) 0.6487; (P) 0.6517; (R1) 0.6536; More… Intraday bias in AUD/USD stays on the downside for the moment. Current decline from 0.7156 should target 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. Firm break there will target 100% projection at 0.6224. On the upside, above 0.6545 minor resistance will turn intraday
Daily Pivots: (S1) 0.6510; (P) 0.6564; (R1) 0.6597; More… AUD/USD’s break of 0.6563 support confirms resumption of whole decline from 0.7156. Intraday bias stays on the downside for 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. Firm break there will target 100% projection at 0.6224. On the upside, above 0.6604 resistance will turn
Daily Pivots: (S1) 0.6591; (P) 0.6626; (R1) 0.6646; More… Intraday bias in AUD/USD is back on the downside with break of 0.6604 temporary lo, to 0.6563. Decisive break there will resume larger decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. On the upside, above 0.6674 minor resistance will delay
Daily Pivots: (S1) 0.6630; (P) 0.6649; (R1) 0.6671; More… Intraday bias AUD/USD stays neutral at this point. Further decline is in favor as long as 0.6708 resistance holds. Below 0.6604 will bring retest of 0.6563 low first. Decisive break there will resume larger decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6817
Daily Pivots: (S1) 0.6619; (P) 0.6647; (R1) 0.6678; More… Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further decline is in favor as long as 0.6708 resistance holds. Below 0.6604 will bring retest of 0.6563 low first. Decisive break there will resume larger decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563
AUD/USD recovered after hitting 0.6604 last week. Intraday bias is turned neutral this week first. Further decline is in favor as long as 0.6708 resistance holds. Below 0.6604 will bring retest of 0.6563 low first. Decisive break there will resume larger decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451.