Daily Pivots: (S1) 1.5351; (P) 1.5404; (R1) 1.5433; More…

Intraday bias in EUR/AUD remains neutral as range trading continues. Further decline is in favor as it’s staying inside near term falling channel. On the downside, break of 1.5250 low will resume larger down trend from 1.9799, for 1.4733 fibonacci level. On the upside, though, break of 1.5689 and sustained trading above channel resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.5945 resistance and above.

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) 1.5450; (P) 1.5509; (R1) 1.5601; More…

Intraday bias in EUR/AUD stays neutral as consolidation from 1.5704 is extending. Deeper decline cannot be ruled out. But downside should be contained by 55 day EMA (now at 1.5163) to bring rebound. On the upside, break of 1.5704 will resume the rally from 1.4281.

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) 1.6502; (P) 1.6535; (R1) 1.6577; More…

Intraday bias in EUR/AUD is back on the upside as rise from 1.5996 resumes. Further rally should be seen to 1.6742 resistance. As noted before, corrective fall from 1.7062 should have completed with three waves down to 1.5998. Firm break of 1.6742 will argue that larger up trend is going to resume through 1.7062 high. On the downside, however, break of 1.6491 support will delay the bullish case 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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 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 55 D EMA (now at 1.6296) holds.

Daily Pivots: (S1) 1.5746; (P) 1.5798; (R1) 1.5868; More…

Intraday bias in EUR/AUD remains neutral and outlook is unchanged. On the downside, break of 1.5559 will resume the fall from 1.6168 to retest 1.5250/5354 support zone. On the upside, however, break of 1.5898 will argue that pull back from 1.6168 has completed. Intraday bias will be back to the upside for 1.6168 resistance.

In the bigger picture, rise from 1.5354 is seen as the third leg of the corrective pattern from 1.5250 low. Further rise cannot be ruled out, but even in that case, strong resistance should be seen at 38.2% retracement of 1.9799 to 1.5250 at 1.6988. Larger down trend from 1.9799 is in favor to extend through 1.5250 at a later stage.

Daily Pivots: (S1) 1.6477; (P) 1.6523; (R1) 1.6564; More…

Intraday bias in EUR/AUD remains neutral for the moment, as consolidation from 1.6671 is extending. Further rise is expected as long as 1.6398 support holds. Corrective fall from 1.7062 should have completed with three waves down to 1.6127 already. Above 1.6671 will target 1.6844 resistance to confirm this bullish case.

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

Daily Pivots: (S1) 1.6148; (P) 1.6185; (R1) 1.6221; More…

EUR/AUD is staying in range of 1.6063/6323 and intraday bias remains neutral first. On the upside, break of 1.6323 resistance will resume the rise from 1.5976 to 1.6432 resistance. On the downside, below 1.6063 will target 1.5976 support first.

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 1.6084) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.6291; (P) 1.6348; (R1) 1.6387; More…

EUR/AUD’s is staying in consolidation from 1.6448 and intraday bias remains neutral at this point. Deeper pull back could be seen but downside should be contained above 1.6052 support to bring rise resumption. On the upside, break of 1.6448 will resume the rally from 1.5683 and target 100% projection of 1.5683 to 1.6262 from 1.6052 at 1.6631 next.

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) 1.0946; (P) 1.0972; (R1) 1.0985; More…

Break of 1.0974 support suggests that corrective rebound form 1.0811 has completed at 1.1059 already. Intraday bias is back on the downside. Further fall should be seen to retest 1.0811 low. On the upside, break of 1.1012 minor resistance will delay the bearish case and turn intraday bias neutral first. But in case of another rise, we’d still expect strong resistance from 1.1062 cluster resistance (38.2% retracement of 1.1476 to 1.0811 at 1.1065) to limit upside.

In the bigger picture, down trend from 1.2004 is (2018 high) is still in progress. More importantly, it’s likely a long term down trend itself, rather than a correction. Further fall should be seen to 1.0629 support and possibly below. On the upside, break of 1.1162 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish in case of rebound.

Daily Pivots: (S1) 1.5690; (P) 1.5733; (R1) 1.5783; More…

Intraday bias in EUR/AUD remains on the downside at this point. The decline from 1.6765 has resumed this week. Further fall should be seen to 61.8% projection of 1.6765 to 1.5721 from 1.6122 at 1.5477. On the upside, break of 1.5853 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

In the bigger picture, as long as 1.5346 support holds, outlook will still 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.

EUR/AUD was still stuck in sideway trading last week and outlook is unchanged. Initial bias remains neutral this week first. On the upside, decisive break of 1.6671 will revive the case that whole correction from 1.7062 has completed with three waves down to 1.6127. Further rally should then be seen to 1.6844 resistance for confirmation. Nevertheless, below 1.6455 minor support will turn bias to the downside for 1.6348 and possibly below.

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). Break of 1.6844 resistance will argue that this up trend is ready to resume through 1.7062 high. In case of another fall, strong support should be seen around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

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 1.5902) 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) 1.4955; (P) 1.4983; (R1) 1.5007; More…

Intraday bias in EUR/AUD stays neutral at this point. On the downside, break of 1.4882 support will reaffirm that case that corrective rebound from 1.4318 has completed at 1.5277, ahead of 1.5354 resistance. Deeper fall would be seen to 1.4597 support, and then 1.4318 low. Also, risk will stay on the downside as long as 1.5277 resistance holds.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend from 1.9799 (2020 high) is still expected to continue. On resumption, next target is 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). However, firm break of 1.5354 will indicate medium term bottoming and bring stronger rally back to 1.6434 key resistance.

Daily Pivots: (S1) 1.5416; (P) 1.5469; (R1) 1.5541; More…

EUR/AUD is extending the corrective pattern from 1.5074. Intraday bias stays neutral at this point. Deeper fall could be seen but downside should contained by 55 day EMA (now at 1.5227) to bring rebound. On the upside, break of 1.5704 will resume the rally from 1.4281.

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) 1.6988; (P) 1.7135; (R1) 1.7234; More…

Intraday bias in EUR/AUD remains on the downside as decline from 1.9799 is extending. With 61.8% retracement of 1.6085 to 1.9799 at 1.7504 firmly taken out, deeper decline would be seen to 1.6085/6593 support zone. On the upside, break of 1.8124 resistance is needed to confirm completion of the decline. Otherwise, further fall will remain mildly in favor in case of recovery.

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) 1.5647; (P) 1.5710; (R1) 1.5744; More….

Intraday bias in EUR/AUD remains neutral first. With 1.5606 support intact, near term outlook stays bullish. Sustained trading above 1.5770 will confirm resumption of medium term rise from 1.3264. In that case, EUR/AUD should target 1.6587 key long term resistance. However, below 1.5606 minor support minor support will dampen this bullish case and turn bias to the downside for 55 day EMA (now at 1.5463).

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.

Daily Pivots: (S1) 1.5710; (P) 1.5742; (R1) 1.5772; More….

EUR/AUD is still bounded in range of 1.5696/5886 and intraday bias remains neutral for the moment. Further rise is expected with 1.5695 support holds. On the upside break of 1.5886 will resume the rebound from 1.5271 and target a test on 1.6189 high. Nonetheless, the momentum and structure of such rise from 1.5271 are not too convincing. Break of 1.5696 will suggest near term reversal and turn bias to the downside for 1.5425 support for confirmation.

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 still in progress. Break of 1.6189 will target 1.6587 key resistance (2015 high).

Daily Pivots: (S1) 1.5778; (P) 1.5883; (R1) 1.5950; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current decline should target 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715. On the downside, above 1.6027 minor resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests that price actions from 1.9799 is 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 1.6827 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.6195; (P) 1.6240; (R1) 1.6291; More…

EUR/AUD’s rebound from 1.5996 lost momentum after hitting 1.6282. Intraday bias is turned neutral first. Further rise is in favor as long as 1.6171 minor support holds. Correction from 1.7062 might have completed with three waves down to 1.5996, after hitting 1.6000 fibonacci support. Above 1.6282 will target 1.6418 resistance next. However, break of 1.6171 will dampen this bullish case and bring retest of 1.5996 instead.

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 1.6418 resistance will argue that the correction has completed.

EUR/AUD stayed in corrective trading last week, rebounding to 1.5690, followed by steep decline to 1.5425. Initial bias is neutral this week first. For now, in case of another rise, we’d expect strong resistance below 1.5773 support turned resistance to bring fall resumption. Below 1.5425 will bring retest of 1.5271 low first. Break will resume the fall from 1.6189 and target 1.5153 key support next.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, firm break of 1.5773 support turned resistance is needed to indicate completion of the fall from 1.6189. Otherwise, further decline is expected in medium term, even in case of strong rebound.

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) 1.6026; (P) 1.6063; (R1) 1.6099; More…

Intraday bias in EUR/AUD remains neutral for the moment as consolidation from 1.6128 is extending. Overall, near term outlook stays bullish as long as 1.5773 support holds. On the upside, break of 1.6128 will resume the rise from 1.5250, as a correction to fall from 1.9799, to 1.6827 resistance next.

In the bigger picture, current development argues that a medium term bottom is formed at 1.5250, on bullish convergence condition in daily MACD. Rise from 1.5250 is seen as a correction to the down trend from 1.9799 first. Stronger rise would be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. This will remain the favored case for now, as long as 1.5614 support holds.

Daily Pivots: (S1) 1.6487; (P) 1.6526; (R1) 1.6572; More…

EUR/AUD is extending the consolidation from 1.6452 and intraday bias remains neutral. Further decline is expected with 1.6793 resistance intact. Fall from 1.7062 is seen as a larger scale correction. Below 1.6452 will target 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, 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.