Daily Forex Analysis – AUD/USD
In today’s Daily Forex Analysis, the AUD/USD Intraday Outlook remains largely neutral, with the currency pair oscillating around a pivot point of 0.6358. Despite the potential for a moderate upswing, the daily analysis suggests a bearish stance will persist as long as the resistance at 0.6522 stays intact. A decisive drop below 0.6358 could trigger a more significant decline, targeting a 100% projection level at 0.6197 from 0.7158 to 0.6459.
Shifting the lens to the broader Daily Analysis, it becomes evident that the prevailing downtrend, which was initiated at the 2021 high of 0.8008, is likely still underway. A crucial break below 0.6171 could set the stage for a drop to 0.6023, based on a 61.8% projection from 0.8008 to 0.6171. This bearish trajectory will be favored unless there is a strong rebound that surpasses the 0.6896 mark.
Analysis Summary
The AUD/USD pair’s Intraday Analysis shows a neutral-to-bearish tilt. While minor recoveries are possible, a sustained break below 0.6358 could lead to more significant losses. The larger downtrend from the 2021 high also supports this bearish outlook.
Key Points
- Neutral-to-bearish Intraday Outlook for AUD/USD.
- Key resistance at 0.6522; pivotal support at 0.6358.
- Bearish long-term trajectory favored unless surpassing 0.6896.
