AUD/USD Daily Outlook
Daily Pivots: (S1) 1.0277; (P) 1.0338; (R1) 1.0381; More...
As noted before, the break of 1.0344 support should have confirmed completion of the choppy rise from 1.0148 at 1.0597. Near term outlook will stay bearish as long as 1.0457 resistance holds. Current decline is expected to target 1.0148 support 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. Fall from 1.0624 is viewed as the last leg inside the pattern and could extend lower. But 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.