Daily Pivots: (S1) 1.6446; (P) 1.6491; (R1) 1.6523; More…

EUR/AUD is staying in consolidation from 1.6033 and intraday bias remains neutral. On the upside, sustained break of 1.6586 will suggest that it’s at least in correction to the fall from 1.9799 to 1.6033. Further rise should then be seen to 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, rejection by 1.6586 will maintain near term bearishness for another fall through 1.6033 later.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall might be seen to 55 month EMA (now at 1.5816). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. However, strong support from 55 week EMA (now at 1.6458) would neutralize the long term bearishness and argues that price actions from 1.9799 are developing into a sideway range pattern instead.

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.

Daily Pivots: (S1) 1.5647; (P) 1.5698; (R1) 1.5783; More….

EUR/AUD’s rally extends to as high as 1.5760 so far. Intraday bias remains on the upside for 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. Break will target 100% projection at 1.6551, which is close to 1.6587 key resistance. On the downside, below 1.5612 will turn intraday bias neutral and bring consolidations. But outlook will stay bullish as long as 1.5458 support holds.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).

Daily Pivots: (S1) 1.4432; (P) 1.4518; (R1) 1.4563; More…

EUR/AUD drops to as low as 1.4421 so far today and met 100% projection of 1.5226 to 1.4625 from 1.4472. The cross quickly recovered. But for the moment, with 1.4617 minor resistance intact, intraday bias remains on the downside. Firm break of 1.4472 will pave the way to larger fibonacci level at 61.8% retracement of 1.3624 to 1.5226 at 1.4236. Meanwhile, above 1.4617 will indicate short term bottoming and turn bias back to the upside for 55 day EMA (now at 1.4744).

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. But we will monitor the structure of the decline from 1.5226 to adjust our view. Above 1.5226 will target a test on 1.6587 key resistance. However, further downside acceleration will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.6125; (P) 1.6212; (R1) 1.6269; More…

Intraday bias in EUR/AUD remains neutral with focus now on 1.6148 support. Break 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. For now, risk will stay on the downside as long as 1.6323 resistance holds in any case.

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) 1.4526; (P) 1.4583; (R1) 1.4617; More…

EUR/AUD continues to lose upside moment, as seen in 4 hour MACD, ahead of 1.4721 key resistance. At this point, further rise is still expected as long as 1.4334 support holds. We’re holding on to the case of trend reversal after defending 1.3671 key support. Decisive break of 1.4721 will confirm our bullish view. However, break of 1.4334 will suggest rejection from 1.4721 and turn bias back to the downside for 1.3980 support instead.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after defending 1.3671 key support. Break of 1.4721 cluster resistance (38.2% retracement of 1.6587 to 1.3624 at 1.4756) should confirm this case and target 61.8% retracement at 1.5455 and above. Overall, we’d expect the up trend from 1.1602 to resume later. However, sustained break of 1.3671 will invalidate our bullish view and would turn extend the fall from 1.6587 towards 1.1602 long term bottom.

Daily Pivots: (S1) 1.4767; (P) 1.4863; (R1) 1.5045; More…

Intraday bias in EUR/AUD remains on the upside as rebound from 1.4625 continues. Pull back from 1.5226 should have completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Further rally should be seen to retest 1.5226 next. On the downside, though, below 1.4813 resistance turned support will turn bias to the downside for 1.4625 again.

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) 1.5304; (P) 1.5351; (R1) 1.5416; More….

Intraday bias in EUR/AUD remains neutral at this point. On the upside, break of 1.5446 resistance will revive the case that correction from 1.5770 has completed at 1.5153. In that case, intraday bias will be turned back to the upside for retesting 1.5770 first. However, break of 1.5153 will resume the fall from 1.5770 to 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950).

In the bigger picture, price actions from 1.5770 so far suggests that it’s corrective in nature. That is, medium term rise from 1.3624 is not completed yet. Break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, sustained 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 rose further to as high as 1.4964 last week but retreated since then. A temporary top is in place and initial bias is neutral this week for consolidation first. Outlook remains bullish as long as 1.4777 resistance turned support holds. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Above 1.4964 will target 1.5073 resistance first. Break of 1.5073 will likely resume the rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 next. However, firm break of 1.4777 will dampen this bullish view and turn bias to the downside for 1.4564 support. Break will extend the correction from 1.5226 through 1.4421.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to resume to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, another decline will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

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) 1.5902; (P) 1.6003; (R1) 1.6065; More…

Intraday bias in EUR/AUD remains neutral for the moment. As long as 1.5898 holds, larger rise from 1.5250 is still in favor to continue. Break of 1.6232 will turn bias to the upside for retesting 1.6434 high first. However, sustained break of 1.5898 will argue that rise from 1.5250 has completed, and turn near term outlook bearish for 1.5614 support first.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise could be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5898 support will indicate that the rebound has completed. Larger down trend from 1.9799 might be ready to resume through 1.5250 low.

Daily Pivots: (S1) 1.5975; (P) 1.5995; (R1) 1.6026; More…

EUR/AUD’s strong rebound and break of 1.6035 resistance suggests that pull back from 1.6182 has completed at 1.5898 already, ahead of 55 day EMA (now at 1.5891). Intraday bias is back on the upside for 1.6182 resistance first. Break there will resume the choppy rise from 1.5250 towards 1.6827 resistance next. On the downside, sustained break of 55 day EMA will argue that choppy corrective rebound from 1.5250 has completed. Deeper fall would be seen to 1.5614 structural support for confirmation.

In the bigger picture, rise from 1.5250 medium term bottom is currently 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. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5614 support will indicate that the rebound has completed and bring retest of 1.5250 low.

Daily Pivots: (S1) 1.5469; (P) 1.5507; (R1) 1.5533; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5250 is still extending. Consolidation from 1.5250 could extend further. On the upside, in case of another rise, upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. Overall, down trend from 1.9799 is expected to resume after consolidation from 1.5250 completes.

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) 1.5514; (P) 1.5594; (R1) 1.5642; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current decline from 1.6434 is in progress for 161.8% projection of 1.6434 to 1.5907 from 1.6232 at 1.5379 next. On the upside, above 1.5716 minor resistance will turn intraday bias neutral and bring consolidations. But near term outlook will remain bearish as long as 1.5907 support turned resistance holds.

In the bigger picture, rise from 1.5250 medium term bottom is seen as a correction to the down trend from 1.9799 (2020 high) only. With 38.2% retracement of 1.9799 to 1.5250 at 1.6988 intact, such down trend is expected to resume at a later stage. Firm break of 1.5250 will target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. In any case, sustained break of 1.6988 fibonacci level is needed to indicate long term reversal.

Daily Pivots: (S1) 1.4875; (P) 1.4918; (R1) 1.4989; More…

EUR/AUD’s rise from 1.4421 resumed by breaking 1.4964 and reaches as high as 1.5010 so far. Intraday bias is back on the upside for 1.5073 resistance next. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Decisive break of 1.5073 will likely resume the rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 next. Near term outlook will remain bullish as long as 1.4824 support holds, even in case of retreat.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to resume to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, another decline will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.6072; (P) 1.6112; (R1) 1.6141; More…

EUR/AUD is staying in consolidation from 1.6262 and intraday bias remains neutral first. We’d expect downside to be contained by 38.2% retracement of 1.5683 to 1.6262 at 1.6041 to bring rise resumption. Correction from 1.6765 has completed with three waves down to 1.5683. On the upside, break of 1.6262 will pave the way to retest 1.6765 high. However, firm break of 1.6041 will dampen this view and bring deeper fall to 61.8% retracement at 1.5904.

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, with bearish divergence condition in weekly MACD, and turn outlook bearish.

Daily Pivots: (S1) 1.6140; (P) 1.6188; (R1) 1.6232; More…

Intraday bias in EUR/AUD remains neutral first. With 1.6128 minor support intact, further rise is expected. 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.

Daily Pivots: (S1) 1.4965; (P) 1.4995; (R1) 1.5015; More…

Intraday bias in EUR/AUD is neutral for consolidation below 1.5073 minor support. With 1.4796 minor support intact, further rally is mildly in favor. Above 1.5073 will target 1.5226 resistance first. Break there will confirm resumption of whole rally from 1.3624. In such case, EUR/AUD would target 1.5455 fibonacci level next. However, break of 1.4796 will turn bias back to the downside for 1.4625 support instead.

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 1.4625 support will dampen this bullish view. In that case, we’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.5413; (P) 1.5482; (R1) 1.5563; More…

EUR/AUD is extending the corrective pattern from 1.5704 and intraday bias stays neutral. If case of another fall, downside should be contained by 55 day EMA (now at 1.5265) to bring rebound. On the upside, break of 1.5704 will resume larger rise from 1.4281. However, sustained trading below 55 day EMA will bring deeper correction towards 1.4965 resistance turned support.

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) 1.4643; (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) 1.4588; (P) 1.4630; (R1) 1.4696; More…

Intraday bias in EUR/AUD remains neutral as it’s bounded in range of 1.4421/4777. At this point, we’re still favoring the case that correction from 1.5226 could have completed with three waves down to 1.4421 already. Therefore, another rally is expected in the cross. Break of 1.4777 will turn bias to the upside for 1.5073 resistance first. Break there will indicate resumption of whole rise from 1.3624. However, break of 1.4221 will invalidate our view and extend the decline from 1.5226 to 61.8% retracement of 1.3624 to 1.5226 at 1.4236.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to resume to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, further downside acceleration will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.