AUD/USD Daily Outlook
Daily Pivots: (S1) 1.0280; (P) 1.0308; (R1) 1.0349; More...
Intraday bias in AUD/USD remains mildly on the upside as rebound from 1.0115 is still in progress and would target 1.0374 resistance. Break there will turn near term outlook bullish for a test on 1.0597/0624 resistance zone. Though, below 1.0203 minor support will indicate that rebound from 1.0115 has completed and argue that fall from 1.0597 might not be over yet.
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.