Daily Pivots: (S1) 1.6215; (P) 1.6280; (R1) 1.6385; More..

EUR/AUD’s breach of 1.6313 resistance suggests short term bottoming at 1.6127, on bullish convergence condition in 4H MACD, just ahead of 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106. Intraday bias is mildly on the upside for 1.6478 resistance next. For now, risk will stay on the upside as long as 1.6127 support holds, in case of retreat.

In the bigger picture, fall from 1.7062 medium term top is seen as correcting the whole up trend from 1.4281 (2022 low). Deeper decline could still be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound. Sustained break of 55 D EMA (now at 1.6426) will argue that the correction has completed.

Daily Pivots: (S1) 1.5904; (P) 1.5930; (R1) 1.5966; More….

Intraday bias in EUR/AUD remains neutral and outlook is unchanged. The fall from 1.6765 is probably still in progress. Break of 1.5721 low will extend the decline and target 1.5346 support. On the upside, above 1.6122 will resume the corrective rise from 1.5721.

In the bigger picture, as long as 1.5346 support holds, outlook will remain bullish. Uptrend from 1.1602 (2012 low) is expected to resume sooner or later. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next. However, firm break of 1.5346 key support will indicate trend reversal, with bearish divergence condition in weekly MACD, and turn outlook bearish.

Daily Pivots: (S1) 1.6450; (P) 1.6591; (R1) 1.6667; More…

Intraday bias in EUR/AUD stays on the downside, as fall from 1.7062 is extending. Deeper decline would be seen to 1.6259 support. Break there will target 1.6000 fibonacci level. On the upside, above 1.6647 support turned resistance will turn intraday bias neutral first.

In the bigger picture, current development argues that fall from 1.7062 is probably correcting whole up trend from 1.4281. Deeper decline would be seen to 38.2 retracement of 1.4281 to 1.7062 at 1.6000. Strong support should be seen there to bring rebound, at least on first attempt.

Daily Pivots: (S1) 1.5519; (P) 1.5560; (R1) 1.5606; More…

Range trading continues in EUR/AUD and intraday bias stays neutral. On the upside, break of 1.5650 resistance will revive that case that correction from 1.5976 has completed at 1.5254. Intraday bias will be back on the upside for 1.5749 resistance first. On the downside, firm break of 1.5254/71 will carry larger bearish implication and resume the fall from 1.5976.

In the bigger picture, it’s still early to confirm if rise from 1.4281 represents bullish trend reversal. But as long as 1.5271 support holds, such rally is in favor to continue. Break of 1.5976 will target 1.6434 key resistance next. On the other hand, firm break of 1.5271 will retain medium term bearishness instead.

Daily Pivots: (S1) 1.6444; (P) 1.6518; (R1) 1.6562; More…

Intraday bias in EUR/AUD remains neutral for the moment. More sideway consolidations could be seen, but deeper decline is expected with 1.6793 resistance intact. On the downside, break of 1.6452 will resume the fall from 1.7062, as a larger scale correction, to 1.6000 fibonacci level. Nevertheless, firm break of 1.6793 will dampen this view and bring retest of 1.7062 instead.

In the bigger picture, fall from 1.7062 is probably correcting whole up trend from 1.4281 (2022 low). Deeper decline would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support should be seen there to bring rebound, at least on first attempt.

EUR/AUD defended 1.6597 key support again last week and recovered. Though, upside is limited well below 1.7194 resistance. Initial bias remains neutral this week first. On the upside, break of 1.7194 resistance should confirm short term bottoming. Stronger rise should then be seen to 38.2% retracement of 1.9799 to 1.6538 at 1.7784 next. On the downside, however, break of 1.6538 will indicate resumption of fall from 1.9799. More importantly, sustained trading below 1.6597 key support will carry larger bearish implication and target 1.5962 support next.

In the bigger picture, focus stays on 1.6597 key cluster support, (2015 high and 38.2% retracement of 1.1602 to 1.9799 at 1.6668, 55 week EMA (now at 1.6544). Strong rebound from current level will retain medium term bullishness. Larger up trend from 1.1602 (2012 low) would extend through 1.9799 high. However, sustained break of 1.6597 will suggest bearish reversal and target 61.8% retracement at 1.4733.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress, with 2.1127 (2008 high) as next target. However, sustained break of 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668, will argue that such rally is completed. Outlook will then be turned bearish for 61.8% retracement at 1.4733.

EUR/AUD continued to stay in range trading above 1.6033 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 1.6586 resistance holds, further decline and break of 1.6033 remains in favor. However, on the upside, sustained break of 1.6585 will confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall could be seen to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.7194 resistance holds.

In the longer term picture rise from 1.1602 (2012 low) could have already completed with three waves up to 1.9799. The development suggests that long term range trading is extending with another medium term down leg. Sustained trading below 55 month EMA (now at 1.5785) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6237; (P) 1.6330; (R1) 1.6397; More…

EUR/AUD’s break of 1.6294 resistance turned support argues that rise from 1.5962 has completed with three waves up to 1.6593. Recent sideway pattern from 1.6786 is extend with another falling leg. Intraday bias is back on the downside for 1.6106 support. Break will target 1.5962. On the upside, above 1.6423 minor resistance will turn bias to the upside for 1.6593.

In the bigger picture, EUR/AUD drew support from 55 week EMA and rebounded strongly again. The development indicates that up trend from 1.1602 (2012 low) is still in progress. Further rise should be seen to 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. This will remain the favored case as long as 1.5962 support holds.

Daily Pivots: (S1) 1.6774; (P) 1.6810; (R1) 1.6877; More…

No change in EUR/AUD’s outlook as rise from 1.6319 is in progress. Intraday bias stays on the upside for 1.7062 resistance. Decisive break there will confirm larger up trend resumption. Next target is 100% projection of 1.5846 to 1.7062 from 1.6319 at 1.7353. On the downside, break of 1.6680 will turn intraday bias neutral first.

In the bigger picture, the strong support from medium term rising trend line indicates that rise from 1.4281 (2022 low) is still in progress. Sustained break of 1.7062 will pave the way to 61.8% retracement of 1.9799 (2020 high) to 1.4281 at 1.7691. In any case, outlook will stay bullish as long as 1.6319 support holds.

Daily Pivots: (S1) 1.6193; (P) 1.6240; (R1) 1.6278; More…

Intraday bias in EUR/AUD is turned neutral with 4 hour MACD crossed below signal line. Further rise is still expected with 1.6128 minor support intact. On the upside, firm break of 1.6308 support turned resistance should confirm completion of whole fall from 1.6789. Further rise should then be seen to 1.6680/6876 resistance zone. On the downside, break of 1.6128 minor support will turn bias back to the downside for retesting 1.5894 key support instead.

In the bigger picture, as long as 1.5894 support holds, outlook remains bullish. Firm break of 1.6786 will resume up trend from 1.1602 (2012 low). Next upside target is 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. However, sustained break of 1.5894 will have 55 week EMA (now at 1.6008) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

EUR/AUD surged to as high as 1.6351 last week. The development indicates that pull back from 1.6353 has completed with three waves down to 1.5984 already. And the larger up trend is ready to resume. Initial bias stays on the upside this week. Decisive break of 1.6353 will confirm this bullish case and target 1.6857 key resistance next. On the downside, below 1.6248 minor support will turn intraday bias neutral and bring retreat. But downside should be contained well above 1.5984 support to bring another rally.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.6238; (P) 1.6320; (R1) 1.6377; More…

Further rally remains mildly in favor in EUR/AUD, as rebound from 1.6127 short term bottom would target 1.6478 resistance. Firm break there will argue that whole correction from 1.7062 has completed, and target 1.6844 resistance for confirmation. Nevertheless, break of 1.6127 will resume the corrective fall to 1.6000 fibonacci level.

In the bigger picture, fall from 1.7062 medium term top is seen as correction to the up trend from 1.4281 (2022 low). Strong support should be seen around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 bring rebound. Break of 1.6844 will argue that this up trend is ready to resume through 1.7062 high.

Daily Pivots: (S1) 1.7592; (P) 1.7818; (R1) 1.7955; More…

Intraday bias in EUR/AUD stays on the downside as correction from 1.9799 is extending. We’d expect downside to be contained by 61.8% retracement of 1.6085 to 1.9799 at 1.7504 to bring rebound. On the upside, break of 1.8124 minor resistance will turn bias to the upside for retesting 1.9799 high. However, sustained break of 1.7504 will pave the way to 1.6085/6593 support zone.

In the bigger picture, up trend from 1.1602 (2012 low) is in progress and further rally would be seen to 2.1127 (2008 high) and possibly to 161.8% projection of 1.1602 to 1.6597 from 1.3524 at 2.1706. On the downside, for now, touching of 1.6597 resistance turned support (2015 high) is needed to indicate medium term reversal. Otherwise, outlook will stay bullish even in case of deep pull back.

Daily Pivots: (S1) 1.6292; (P) 1.6351; (R1) 1.6422; More…

Sideway trading continues in EUR/AUD and intraday bias remains neutral at this point. With 1.6231 support intact, further rally is expected. On the upside, break of 1.6601 will resume the rebound from 1.5846 and target 1.6785 high next. However, firm break of 1.6231 will bring deeper fall to extend the corrective pattern from 1.6785.

In the bigger picture, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.

Daily Pivots: (S1) 1.5437; (P) 1.5543; (R1) 1.5605; More…

Intraday bias in EUR/AUD remains neutral for the moment. As long as 1.5271 support holds, further rally is expected. On the upside, firm break of 1.5747 will resume larger rally from 1.4281. Next target is 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

In the bigger picture, as long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. However, firm break of 1.5271 will argue that such rebound has completed, and keep medium term outlook neutral at best. But in this case, more range trading should be seen above 1.4281 low first.

Daily Pivots: (S1) 1.6446; (P) 1.6493; (R1) 1.6574; More…

Intraday bias in EUR/AUD stays neutral at this point, for consolidation below 1.6601. Near term outlook stays cautiously bullish as long as 1.6231 support holds. On the upside, break of 1.6601 will target 1.6785 high next. However, firm break of 1.6231 will bring deeper fall to extend the corrective pattern from 1.6785.

In the bigger picture, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.

Daily Pivots: (S1) 1.5368; (P) 1.5410; (R1) 1.5440; More…

EUR/AUD rises notably today but stays below 1.5551 resistance, intraday bias remains neutral first. On the upside firm break of 1.5551 will argue that larger up trend is ready to resume. Intraday bias will be back on the upside for 1.5740 resistance and above. In case of another fall, downside should be contained by 55 day EMA (now at 1.5298) to bring rebound.

In the bigger picture, a medium term bottom should be in place at 1.4281, on bullish convergence condition in daily MACD. Further rise would be seen back to 1.6434 key resistance next. Break of 1.4965 resistance turned support is needed to indicate reversal. Otherwise, further rally will remain in favor.

Daily Pivots: (S1) 1.5851; (P) 1.5947; (R1) 1.6099; More….

EUR/USD’s rally continues today and reaches as high as 1.6084 so far. Intraday bias remains on the upside and, with 1.5984 support turned resistance broken, further rise should be seen to retest 1.6357 high next. At this point, we’d be cautious on topping around there to bring pull back. On the downside, break of 1.5887 resistance turned support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish in case of retreat.

In the bigger picture, no change in the view that 1.6357 is a medium term top. But the strong rebound ahead of 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313) suggests price actions from 1.6357 are developing into sideway consolidation, rather than a deep correction. The range of 1.5271/6357 is likely set for the consolidation. And we don’t expect a break of the range any time soon. But decisive break of 1.6357 will resume the larger up trend from 1.3624 (2017 low) to 1.6587 (2015 high).

Daily Pivots: (S1) 1.6301; (P) 1.6353; (R1) 1.6448; More…

Intraday bias in EUR/AUD stays on the upside and outlook is unchanged Correction from 1.0762 has possibly completed with three waves down to 1.5996, after hitting 1.6000 fibonacci support. Firm break of 1.6148 resistance will solidify this bullish case and target 1.6742 resistance next. On the downside, though, break of 1.6282 resistance turned support will dampen this bullish view and turn intraday bias neutral first.

In the bigger picture, fall from 1.7062 medium term top is seen as a correction to the up trend from 1.4281 (2022 low) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed, and the up trend is ready to resume through 1.7062.

EUR/AUD’s rally extended last week and reached as high as 1.6159. Initial bias remains on the upside this week for 100% projection of 1.5271 to 1.5886 from 1.5601 at 1.6216, which is close to 1.6189 high. Upside could be limited there on initial attempt to bring consolidation. But break of 1.5983 support is needed to indicate short term topping. Otherwise, further rise will remain in favor in case of retreat. Meanwhile, firm break of 1.6216 will pave the way to 161.8% projection at 1.6596, which is close to another key resistance level at 1.6587.

In the bigger picture, EUR/AUD drew strong support from 55 week EMA and rebounded. And the development argues that medium term rally from 1.3624 (2017 low) is still in progress. Firm break of 1.6189 will target a test on 1.6587 (2015 high). On the downside, break of 1.5601 support will now be the first sign of medium term reversal, and will bring a test on 1.5271 key support for confirmation.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.