Daily Forex Analysis – AUD/USD
The Daily Forex Analysis of AUD/USD denotes a sustained neutral intraday bias as the pair persists in range trading. The landscape continues to be shadowed by a bearish viewpoint, maintaining a resolute stance below 0.6524 resistance. A downward breach of 0.6360 would reactivate the overarching downtrend, pointing to a 100% projection of 0.7160 to 0.6461 from 0.6898 at 0.6199.
Expanding the perspective, the prevailing downtrend from 0.8010 (the high of 2021) is conceivably ongoing. A decisive plummet below 0.6173 would aim for a Fibonacci 61.8% projection of 0.8010 to 0.6173 to 0.7160 at 0.6025. This scenario remains the preferred assumption as long as the 0.6898 resistance holds, especially in the event of a substantial rebound.
The AUD/USD Intraday Analysis reveals a key focus on potential shifts in trading ranges and highlights the significant impact of sustaining levels below 0.6524 on broader market trends. The extended outlook remains cautious and bearish unless marked rebounds are observed.
Analysis Summary
The Daily Analysis for AUD/USD remains neutral, marked by continued range trading and a consistent bearish outlook. A break below 0.6360 could signify a resumption of the larger downtrend, while the scenario from the 0.8010 high of 2021 still holds possible continuity, aiming for lower projections unless substantial rebounds occur.
Key Points
- Continuation of range trading keeps the intraday bias in AUD/USD neutral.
- The bearish outlook persists with 0.6524 as a substantial resistance.
- A decisive break of 0.6173 could target lower projections in the ongoing downtrend from 2021’s high.
