AUD/USD is still correcting the 27-year decline from 148.50 in 1973 to 0.4778 in 2000. We are currently looking for more upside towards at least 0.9200 and possibly even closer to the former top at 1.1080 to complete the long-term corrective rally from 2000.
In the short term, we expect support near 0.6710 to be able to protect the downside for the next impulsive rally towards 0.9200 and possibly higher.
