Intraday bias in AUD/USD is turned neutral first with current recovery, and some consolidations could be seen. Risk will stay on the downside as long as 0.7200 resistance holds. Below 0.7022 will resume the fall from 0.7277 to 100% projection of 0.7277 to 0.7076 from 0.7200 at 0.6999. Firm break there will target 161.8% projection at 0.6875.
In the bigger picture, considering bearish divergence condition in D MACD, a medium term top could be formed at 0.7277 after failing to sustain above 61.8% retracement o f0.8006 (2021 high) to 0.5913 (2024 low) at 0.7206). Deeper fall could be seen to 38.2% retracement of 5913 to 0.7277 at 0.6756 as a correction. But strong support should be seen there to bring rebound. Consolidations would continue below 0.7277 for a while.
