Daily Pivots: (S1) 1.6153; (P) 1.6184; (R1) 1.6210; More…

Intraday bias in EUR/AUD is back on the downside with breach of 1.6148 temporary low. Current fall from 1.6844 should target 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106. Meanwhile, considering bullish convergence condition in 4H MACD, firm break of 1.6265 resistance should indicate short term bottoming, and turn bias back to the upside for 1.6478 resistance instead.

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 would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.

Daily Pivots: (S1) 1.6058; (P) 1.6132; (R1) 1.6169; More…

Intraday bias in EUR/AUD remains on the downside at this point. Rise from 1.5894 has completed at 1.6786 after failing to sustain above 1.6765 resistance. Deeper fall would be seen to retest 1.5894 support first. At this point, we’d expect strong support from there to bring rebound. But sustained break will carry larger bearish implications and target 1.5683 support next. On the upside, above 1.6247 minor resistance will turn intraday bias neutral first.

In the bigger picture, as long as 1.5894 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 1.6005) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.6104; (P) 1.6147; (R1) 1.6178; More…

Intraday bias in EUR/AUD remains neutral at this point. With 1.6259 minor resistance intact, further decline is expected. On the downside, break of 1.6025 will resume the fall from 1.6448 to 1.5683 support and below. On the upside, break of 1.6259 will indicate that corrective pull back from 1.6448 has completed. And further rise should be seen back to retest 1.6448 high.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend 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 and turn outlook bearish.

Daily Pivots: (S1) 1.5986; (P) 1.6048; (R1) 1.6083; More….

The rebound from 1.5773 should have finished at 1.6139 already. Intraday bias is mildly on the downside for 1.5773 and possibly below. Nonetheless, as long as 1.5621 support holds, we’ll treat price actions from 1.6189 as a consolidation pattern and expect another rise through 1.6189. On the upside, above 1.6139 will target 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

Daily Pivots: (S1) 1.5818; (P) 1.5866; (R1) 1.5902; More…

EUR/AUD is staying in consolidation from 1.5976 temporary top and intraday bias remains neutral first. Another rise could be seen with 1.5614 support intact. On the upside, break of 1.5976 will resume the choppy rise from 1.5250 to 1.6033 key support turned resistance next. Sustained break there will argue that longer term trend has reversed, and target 1.6827 resistance for confirmation.

In the bigger picture, outlook stays bearish with 1.6033 support turned resistance intact for now. Fall from 1.9799, as a correction to to long term up trend from 1.1602 (2012 low) is still in favor to resume through 1.5250 later. However, However, firm break of 1.6033 will argue that such decline has completed. Stronger rebound would then be seen 38.2% retracement of 1.9799 to 1.5250 at 1.6988.

Daily Pivots: (S1) 1.6645; (P) 1.6735; (R1) 1.6799; More…

Range trading continues in EUR/AUD and intraday bias stays neutral. On the upside, above 1.6843 will resume the rebound from 1.6319. Firm break there will resume larger up trend. However, break of 1.6550 support will bring deeper fall back to 1.6319 support instead.

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) 1.5719; (P) 1.5744; (R1) 1.5763; More…

Outlook in EUR/AUD remains unchanged and intraday bias stays neutral first. On the upside, sustained trading above 38.2% retracement of 1.6827 to 1.5250 at 1.5852 will bring further rise to 1.6033 key support turned resistance. On the downside, though, break of 1.5657 will be the first sign that consolidation from 1.5250 has finally completed. Intraday bias will be turned back to the downside for 1.5418 support first.

In the bigger picture, price actions from 1.9799 are developing into a deep correction, to long term up trend from 1.1602 (2012 low). Deeper fall would be seen to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. Medium term outlook will remain bearish as long as 1.6033 support turned resistance holds, even in case of strong rebound. However, firm break of 1.6033 will argue that such decline has completed, and turn focus to 1.6827 structural resistance for confirmation.

EUR/AUD’s correction from 1.7180 short term top continued last week, but downside is contained above 1.6474 support so far. Initial bias remains neutral this week first, and further rally is in favor. On the upside, above 1.6745 will argue that the pullback has completed, and turn bias back to the upside for retesting 1.7180. However, firm break of 1.6474 will dampen the bullish view and bring deeper pullback towards 1.5996 support.

In the bigger picture, corrective fall from 1.7062 medium term top should have completed at 1.5996. Larger up trend from 1.4281 (2022 low) is resuming. Next target is 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 1.6474 support holds.

In the longer term picture, price actions from 1.9799 (2020 high) are seen as a long term decline at the same scale as the rise from 1.1602 (2012 low). Rebound from 1.4281 is seen as the second leg. As long as 55 M EMA (now at 1.6006) holds, this second leg could still extend higher. However, sustained trading below 55 M EMA will open up the bearish case for extending the decline through 1.4281 low.

Daily Pivots: (S1) 1.5708; (P) 1.5732; (R1) 1.5758; More…

Intraday bias in EUR/AUD is turned neutral with 4 hour MACD crossed above signal line. But risk stays on the downside as long as 1.5489 holds. Consolidation pattern from 1.5250 might have completed just missing 38.2% retracement of 1.6827 to 1.5250 at 1.5852. Below 1.5665 will target 1.5418 support first. Sustained break there will solidify this bearish case and target a retest of 1.5250 low.

In the bigger picture, price actions from 1.9799 are developing into a deep correction, to long term up trend from 1.1602 (2012 low). Deeper fall would be seen to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. Medium term outlook will remain bearish as long as 1.6033 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.6125; (P) 1.6192; (R1) 1.6233; More…

Intraday bias in EUR/AUD remains neutral as it’s bounded in range of 1.6148/6323. At this point, we’re slightly favoring the case that rebound from 1.5976 has completed at 1.6323 already. Thus, risk will stay on the downside as long as 1.6323 resistance holds. Break of 1.6148 will turn bias to the downside for 1.5976 support first. On the upside, break of 1.6323 will resume the rise from 1.5976 to 1.6432 resistance next.

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 1.6071) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.4664; (P) 1.4730; (R1) 1.4771; More…

No change in EUR/AUD’s outlook. We continue to expect strong support from 1.4669, near to 55 days EMA at 1.4689, to contain downside and bring rebound. Break of 1.4897 minor resistance will argue that pull back from 1.5226 has completed and turn bias back to the upside for retesting 1.5226 high first. However, sustained break of 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back to 1.4309 resistance turned support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4343; (P) 1.4406; (R1) 1.4524; More…

Intraday bias in EUR/AUD remains neutral at this point. Further decline is still expected with 1.4712 resistance intact. On the downside, firm break of 1.4318 low will resume larger down trend to medium term projection level at 1.3623. On the upside, break of 1.4712 resistance will delay the bearish case and turn bias to the upside for stronger rebound first.

In the bigger picture, down trend from 1.9799 is still in progress. Break of 1.4318 low will target 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623, which is close to 1.3624 long term support (2017 low). This will remain the favored case now as long as 1.5396 resistance holds.

Daily Pivots: (S1) 1.4020; (P) 1.4102; (R1) 1.4148; More…

A temporary top is formed at 1.4183 in EUR/AUD and intraday bias is turned neutral first. Some consolidation would be seen but downside should be contained by 1.3874/4014 support zone and bring another rally. As noted before, we’re favoring the case of medium term trend reversal defending key support level at 1.3671, on bullish convergence condition in daily MACD Above 1.4183 will turn bias back to the upside for 1.4289 resistance. Sustained break there will affirm our bullish view and target 1.4721 key resistance next.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

EUR/AUD rose further to 1.5823 last week before forming a temporary top there and turned sideway. Initial bias is neutral this week first. Further rally is expected as long as 1.5617 minor support holds. Above 1.5823 will target a test on 1.6139/89 resistance zone. However, below 1.5617 will turn bias to the downside for 1.5425 support first.

In the bigger picture, current development suggests that fall from 1.6189 is a corrective move and has completed at 1.5217 already. Key support levels of 1.5153 and 38.2% retracement of 1.3624 to 1.6189 at 1.5209 were defended. And medium term rise from 1.3624 (2017 low) is not completed yet. Break of 1.6189 will target 1.6587 key resistance (2015 high).

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) 1.7703; (P) 1.7907; (R1) 1.8174; More…

EUR/AUD’s up trend is still in progress and intraday bias stays on the upside. Current rise should target next medium term fibonacci projection level at 1.8619. On the downside, break of 1.7286 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, up trend from 1.1602 (2012 low) is in progress for 100% projection of 1.1602 to 1.6597 from 1.3524 at 1.8619. On the downside, break of 1.6085 support is needed to indicate medium term topping. Otherwise, outlook will stay bullish even in case of deep pull back.

Daily Pivots: (S1) 1.6415; (P) 1.6459; (R1) 1.6528; More…

EUR/AUD’s rally extends to as high as 1.6550 so far. Intraday bias remains on the upside for 1.6593 resistance next. Break there will target a test on 1.6786 high. On the downside, below 1.6389 minor support will turn intraday bias neutral first.

In the bigger picture, EUR/AUD is still struggling in established range of 1.5905/6786. And it’s trying to draw support from 55 week EMA (now at 1.6122) again. For now, larger up trend from 1.1602 (2012 low) is still in favor to continue as long as 1.5962 support holds. Break of 1.6786 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488.

Daily Pivots: (S1) 1.6273; (P) 1.6299; (R1) 1.6341; More…

With 1.6423 minor resistance intact, further fall is mildly in favor in EUR/AUD. Rise form 1.5962 could have completed with three waves up to 1.6593. Recent sideway pattern from 1.6786 is extending with another falling leg. Further fall would be seen to 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) 1.6132; (P) 1.6181; (R1) 1.6234; More..

Further decline could be seen in EUR/AUD with 1.6313 minor resistance holds. But considering bullish convergence condition in 4H MACD, stronger support could be seen from 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 to bring rebound. On the upside, firm break of 1.6313 resistance should indicate short term bottoming, and turn bias back to the upside for 1.6478 resistance.

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 would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.

Daily Pivots: (S1) 1.5653; (P) 1.5675; (R1) 1.5700; More….

EUR/AUD weakens notably today but stays above 1.5606 so far. Intraday bias stays neutral first with focus back on 1.5606. Firm break of 1.5606 will argue that a short term top is formed. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.5476) and below. Nonetheless, break of 1.5816 should now confirm resumption of medium term rise from 1.3264. In that case, EUR/AUD should target 1.6587 key long term resistance.

In the bigger picture, medium term rise from 1.3624 is not completed yet. Sustained break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, break of 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950) will indicate medium term reversal. And there is prospect of retesting 1.3624 low in that bearish case.

EUR/AUD rebounds strongly last week and the breach of 1.6060 resistance argues that decline from 1.6765 has completed. Initial bias is cautiously on the upside this week. Sustained trading above 1.6060 will confirm and target 1.6765 resistance next. On the downside, though, below 1.5983 minor support will dampen this bullish case and turn bias neutral again.

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.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress for 61.8% retracement of 2.1127 to 1.1602 at 1.7488. Firm break there will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. This will remain the favored case as long as 1.5346 remains intact.