AUD/USD Daily Report Summary

Daily pivot points for AUD/USD are as follows: (S1) 0.6252; (P) 0.6292; (R1) 0.6318. As of the current assessment, the intraday bias for the AUD/USD remains neutral.

Should the price dip below 0.6186, it will likely target the support level at 0.6087. A decisive break below this support would indicate a continuation of the decline that started from 0.6941. Conversely, if the price manages to sustain above the 38.2% retracement level, which is currently at 0.6413 (calculated from the high of 0.6941 to the low of 0.6087), it would increase the potential for a near-term bullish reversal, with a new target at the 61.8% retracement level of 0.6615.

Looking at the broader context, the downward movement from 0.6941, which was the high reached in 2024, appears to be a part of a larger trend that has its origins in the high of 0.8006 from 2021. The next significant medium-term target for this trend is set at 0.5806, calculated by projecting the drop from 0.8006 to 0.6169 back down to 0.6941. The overarching outlook remains bearish, especially as long as the price stays below the 55-week Exponential Moving Average (EMA), currently at 0.6487.

AUD, USD, Trading