AUD/USD Daily Outlook
Daily Pivots: (S1) 1.0382; (P) 1.0412; (R1) 1.0436; More...
The rebound from 1.0148 in AUD/USD could extend higher. But as it's corrective looking so far, we'd be cautious on reversal signal as it approaches 1.0624 resistance. On the downside, break of 1.0330 minor support will turn bias back to the downside for 1.0235 and below.
In the bigger picture, price actions from 1.1079 high are treated as a consolidation pattern in the larger up trend, in form of a triangle. Current development suggests that fall from 1.0624 is the last leg. Hence, downside of the fall from there should be contained above 0.9588 and the larger up trend is ready to resume soon. Break of 1.0624 should send AUD/USD through 1.0852 to retest 1.1079 resistance next.