AUD/USD Daily Analysis
0.6873 resistance intact. The current downtrend from 0.8006 should target the next Fibonacci level at 0.6461. On the upside, the break of 0.6873 minor resistance will turn bias neutral and bring consolidations first. But outlook will remain bearish as long as the 0.7282 resistance holds, in case of a rebound.
In the bigger picture, price actions from 0.8006 could still be a corrective pattern to rise from 0.5506 (2020 low). But current downside acceleration is raising the chance that it’s a bearish impulsive move. In either case, the outlook will remain bearish as long as the 0.7282 resistance holds. Next target is 61.8% retracement of 0.5506 to 0.8006 at 0.6461.
