AUDUSD 1D | Market Outlook

- Initial bias stays neutral this week for some more consolidations first touching 0.7160. At this point, we’re favoring the bullish case that consolidation pattern from 0.7410 has completed with three waves to 0.6991. On the upside, firmly break of 0.7339 will resume a larger rally to the upside. Nevertheless, on the downside, break of 0.71400 minor support would likely extend the consolidation pattern from 0.7413 with another falling leg.