[m.youssif]

AUD/USD


No change in AUD/USD's outlook. AUD/USD is possibly just in sideway consolidations from 1.0181, in form of triangle pattern. That is, recent uptrend is not over yet. Some choppy sideway trading could be seen in near term first. Break of 1.0200 resistance will target another high above 1.0254. On the downside, break of 0.9704 support is needed to revive the bearish reversal case that AUD/USD has topped out at 1.0254 and target 0.9536 and below.

In the bigger picture, with 0.9536 support intact, there is no confirmation of reversal yet. AUD/USD could make another high above 1.0254. But considering bearish divergence condition remains in daily and weekly MACD, reversal should be imminent. We'll continue to look for topping signal in case of another rise. On the downside, break of 0.9536 will confirm that 1.0254 is the medium term top. Also, we're looking the prospect that whole up trend from 0.6008 has finished after hitting 61.8% projection of 0.6008 to 0.9404 from 0.8066 at 1.0165. Decisive break of 0.9536 should drag AUD/USD deep into 0.8066/9404 support zone.

[m.youssif]

AUD/USD


No change in AUD/USD's outlook. AUD/USD is possibly just in sideway consolidations from 1.0181, in form of triangle pattern. That is, recent uptrend is not over yet. Some choppy sideway trading could be seen in near term first. Break of 1.0200 resistance will target another high above 1.0254. On the downside, break of 0.9704 support is needed to revive the bearish reversal case that AUD/USD has topped out at 1.0254 and target 0.9536 and below.

In the bigger picture, with 0.9536 support intact, there is no confirmation of reversal yet. AUD/USD could make another high above 1.0254. But considering bearish divergence condition remains in daily and weekly MACD, reversal should be imminent. We'll continue to look for topping signal in case of another rise. On the downside, break of 0.9536 will confirm that 1.0254 is the medium term top. Also, we're looking the prospect that whole up trend from 0.6008 has finished after hitting 61.8% projection of 0.6008 to 0.9404 from 0.8066 at 1.0165. Decisive break of 0.9536 should drag AUD/USD deep into 0.8066/9404 support zone.