Daily Pivots: (S1) 1.4709; (P) 1.4747; (R1) 1.4822; More…

EUR/AUD’s recovery argues that pull back from 1.5226 might be completed after drawing support from 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Intraday bias is turned back to the upside for retesting 1.5226 high. However, sustained break of 1.4614 fibonacci level will pave the way to 61.8% retracement at 1.4236 and possibly below.

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) 1.4641; (P) 1.4673; (R1) 1.4721; More…

Further decline is mildly in favor in EUR/AUD as long as 1.4754 minor resistance holds. Break of 38.2% retracement of 1.3624 to 1.5226 at 1.4614 will pave the way to 61.8% retracement at 1.4236 and possibly below. Meanwhile, break of 1.4754 will indicate that the cross could have defended 1.4669 support. In that case, intraday bias will be turned back to the upside for retesting 1.5226 high.

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) 1.4643; (P) 1.4699; (R1) 1.4727; More…

EUR/AUD’s fall from 1.5226 resumed after brief consolidation. The break of 1.4669 support argues that rise from 1.3624 is completed at 1.5226 already. Intraday bias is back on the downside. Break of 38.2% retracement of 1.3624 to 1.5226 at 4614 will pave the way to 61.8% retracement at 1.4236 and possibly below. On the upside, above 1.4754 minor resistance will turn bias neutral and bring recovery first.

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) 1.4664; (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.

EUR/AUD’s pull back from 1.5226 extended lower last week and broke 38.2% retracement of 1.3980 to 1.5226 at 1.4750. It’s pressing 1.4669 support. At this point, we’re expecting strong support around 1.4669, near term 55 days EMA at 1.4685, to contain downside and bring rebound. Break of 1.4897 minor resistance will 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.

In the longer term picture, the rise from 1.1602 long term bottom 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 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

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

At this, we’d still expect strong support from 1.4669 close to 55 day EMA at 1.4685, to contain downside and bring rebound. Break of 1.4897 minor resistance will turn bias back to the upside for retesting 1.5226 high first. However, sustained break of 1.4669 will 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back to 55 week EMA (now at 1.4539) and below.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

Daily Pivots: (S1) 1.4727; (P) 1.4807; (R1) 1.4860; More…

EUR/AUD’s pull back from 1.5226 extended lower and broke 38.2% retracement of 1.3980 to 1.5226 at 1.4750. But at this point, we’d still expect strong support from 1.4669, close to 55 day EMA at 1.4685, to contain downside and bring rebound. Above 1.4894 minor resistance will turn bias back to the upside for retesting 1.5226 high. However, firm break of 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

Daily Pivots: (S1) 1.4816; (P) 1.4856; (R1) 1.4911; More…

The correction from 1.5226 in EUR/AUD is still in progress and might extend to 38.2% retracement of 1.3980 to 1.5226 at 1.4750. But we’d expect strong support from 1.4669 to contain downside and bring rebound. Above 1.5015 minor resistance will turn bias to the upside for 1.5226 first. Larger rise from 1.3624 is expected to resume later. Break of 1.5226 will target next medium term fibonacci level at 1.5455.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

Daily Pivots: (S1) 1.4829; (P) 1.4869; (R1) 1.4894; More…

No change in EUR/AUD’s outlook. The correction from 1.5526 might still extend lower to 38.2% retracement of 1.3980 to 1.5226 at 1.4750. But we’d expect strong support from 1.4669 to contain downside and bring rebound. Above 1.5015 minor resistance will turn bias to the upside for 1.5226 first. Larger rise from 1.3624 is expected to resume later. Break of 1.5226 will target next medium term fibonacci level at 1.5455.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

Daily Pivots: (S1) 1.4815; (P) 1.4867; (R1) 1.4912; More…

With 1.5016 minor resistance intact, the correction from 1.5526 might extend lower to 38.2% retracement of 1.3980 to 1.5226 at 1.4750 as the correction continues. At this point, we’d expect strong support from 1.4669 to contain downside and bring rebound. Above 1.5015 minor resistance will turn bias to the upside for 1.5226 first. Break will resume the rise from 1.3624 and target next medium term fibonacci level at 1.5455.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

EUR/AUD’s break of 1.4927 support last week confirmed short term topping at 1.5226, on bearish divergence condition in 4 hour MACD. Deeper decline could be seen initial this week for 38.2% retracement of 1.3980 to 1.5226 at 1.4750 as the correction continues. At this point, we’d expect strong support from 1.4669 to contain downside and bring rebound. Above 1.5015 minor resistance will turn bias to the upside for 1.5226 first. Break will target next medium term fibonacci level at 1.5455.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

In the longer term picture, the rise from 1.1602 long term bottom 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 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.4821; (P) 1.4885; (R1) 1.4919; More…

The correction from 1.5226 is still in progress and intraday bias stays on the downside. Deeper fall could be seen to 38.2% retracement of 1.3980 to 1.5226 at 1.4750. At this point, we’d expect strong support from 1.4669 to contain downside and bring rebound. Larger rise from 1.3642 is expected to resume later after the pull back completes.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

Daily Pivots: (S1) 1.4809; (P) 1.4919; (R1) 1.5016; More…

Intraday bias in EUR/AUD remains on the downside for the moment. The correction from 1.5226 short term top could extend to 38.2% retracement of 1.3980 to 1.5226 at 1.4750. At this point, we’d expect strong support from 1.4669 to contain downside and bring rebound. Larger rise from 1.3642 is expected to resume later after the pull back completes.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

Daily Pivots: (S1) 1.4961; (P) 1.5034; (R1) 1.5095; More…

The break of 1.4927 support in EUR/AUD indicates short term topping at 1.5226, on bearish divergence condition in 4 hour MACD. Intraday bias is turned to the downside for deeper pull back to 38.2% retracement of 1.3980 to 1.5226 at 1.4750. At this point, we’d expect strong support from 1.4669 to contain downside and bring rebound. Larger rise from 1.3642 is expected to resume later after the pull back completes.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

Daily Pivots: (S1) 1.4968; (P) 1.5077; (R1) 1.5137; More…

Intraday bias in EUR/AUD stays neutral for consolidation below 1.5226 temporary top. Further rise is still expected 1.4927 support holds. Above 1.5226 will extend the rally from 1.3624 to next medium term fibonacci level at 1.5455. However, break of 1.4927 will indicate short term topping on bearish divergence condition in 4 hour MACD. In such case, intraday bias will be turned back to the downside for 1.4669 support next.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

Daily Pivots: (S1) 1.5123; (P) 1.5171; (R1) 1.5198; More…

EUR/AUD dips sharply today and intraday bias is turned neutral with a temporary top formed at 1.5226. Further rally is expected as long as 1.4927 support holds. Above 1.5226 will extend the rally from 1.3624 to next medium term fibonacci level at 1.5455. However, break of 1.4927 will indicate short term topping and bring deeper pull back.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

EUR/AUD’s rally resumed last week and took out 1.5094 resistance. Initial bias remains on the upside this week. Current rise from 1.3624 should target next medium term fibonacci level at 1.5455. On the downside, break of 1.4927 is needed to signal short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

In the longer term picture, the rise from 1.1602 long term bottom 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 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.5121; (P) 1.5174; (R1) 1.5253; More…

Intraday bias in EUR/AUD remains on the upside for the moment. Current rise from 1.3624 is expected to target r next medium term fibonacci level at 1.5455. On the downside, break of 1.4927 is needed to signal short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

Daily Pivots: (S1) 1.5004; (P) 1.5067; (R1) 1.5191; More…

EUR/AUD’s rally resumes today and surges to as high as 1.5226 so far. Intraday bias is back on the upside for next medium term fibonacci level at 1.5455. On the downside, break of 1.4927 is needed to signal short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds.

Daily Pivots: (S1) 1.4933; (P) 1.4976; (R1) 1.5024; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, firm break of 1.4934 minor support will confirm short term topping, on bearish divergence condition in 4 hour MACD, after hitting 1.5094 key resistance. In that case, deeper pull back would be seen to 55 day EMA (now at 1.4570). Meanwhile, sustained break of 1.5094 resistance will extend the rally from 1.3624 to next medium term fibonacci level at 1.5455.

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455 and above. In any case, outlook will now stay cautiously bullish as long as 1.4309 resistance turned support holds.