AUD/USD Daily Report – Action Forex

Day by day Pivots: (S1) 0.6366; (P) 0.6392; (R1) 0.6428; More…

Vary buying and selling continues in AUD/USD and intraday bias stays impartial. On the upside, above 0.6448 will resume the rebound from 0.5913 to 61.8% retracement of 0.6941 to 0.5913 at 0.6548. Nevertheless, agency break of 0.6343 help will affirm quick time period topping. Intraday bias shall be turned again to the draw back for 38.2% retracement of 0.5913 to 0.6448 at 0.6244.

Within the greater image, so long as 55 W EMA (now at 0.6440) holds, the down development from 0.8006 (2021 excessive) ought to resume later to 61.8% projection of 0.8006 to 0.6169 from 0.6941 at 0.5806. Nevertheless, sustained buying and selling above 55 W EMA will argue {that a} medium time period backside was already fashioned, and arrange additional rebound to 0.6941 resistance as a substitute.

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