AUD/USD Daily Report

Daily Pivot Levels: (S1) 0.6252; (P) 0.6292; (R1) 0.6318; More insights below.

The intraday bias for the AUD/USD currency pair remains neutral at the moment. If the price falls below 0.6186, the first significant support level to watch is 0.6087. A strong break below this level would indicate a continuation of the decline that began from a 2024 high of 0.6941.

On the contrary, if the price manages to sustain trading above the 38.2% retracement level of the decline from 0.6941 to 0.6087, currently at 0.6413, it could signal an increased likelihood of a short-term bullish reversal. Should this reversal occur, the next target would be the 61.8% retracement at 0.6615.

Looking at the broader perspective, the fall from 0.6941 is considered a part of the larger downtrend that started from the 2021 high of 0.8006. The next medium-term objective may be the 61.8% projection from that high to the recent low of 0.6169, which is estimated to be around 0.5806. Overall, the outlook remains bearish as long as the price is held below the 55-week Exponential Moving Average (EMA), currently situated at 0.6487.

AUD, USD, trading