AUD/USD Daily Analysis
Intraday bias in AUD/USD remains neutral first and the outlook stays bearish. On the downside, a decisive break of 0.6680 will resume a larger down trend. The next target will be a 0.6461 long-term Fibonacci level. On the upside, above 0.6769 minor resistance will turn bias back to the upside for 0.6915 resistance instead.
In the bigger picture, price actions from 0.8006 (2021 high) are seen more as a corrective pattern to rise from 0.5506 (2020 low). Or it could also be a bearish impulsive move. In either case, the outlook will remain bearish as long as the 0.7135 resistance holds. Next target is 61.8% retracement of 0.5506 to 0.8006 at 0.6461.
