AUD/USD Daily Analysis
Intraday bias in AUD/USD remains mildly on the downside for 0.6868 support. Firm break there argues that the whole rebound from 0.6680 is finished, and brings a retest of 0.6680 low. On the upside, above 0.7030 minor resistance will turn intraday bias neutral first.
In the bigger picture, price actions from 0.8006 (2021 high) is seen more as a corrective pattern to rise from 0.5506 (2020 low). Or it could be 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.
