Daily Pivots: (S1) 1.5952; (P) 1.5981; (R1) 1.6018; More…

With 1.6073 minor resistance intact, intraday bias in EUR/AUD stays on the downside. Current fall from 1.6448 is seen as the third leg of the consolidation pattern from 1.6765 high. Next target will be 1.5683 support and below. On the upside, above 1.6073 minor resistance will turn bias neutral and bring consolidations. But upside of recovery should be limited below 1.6231 support to bring another fall.

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) 1.5255; (P) 1.5324; (R1) 1.5361; More….

No change in EUR/AUD’s outlook. While deeper decline cannot be ruled out, near term outlook stays bullish as long as 1.5226 resistance turned support holds. Break of 1.5430 minor resistance will now indicate completion of the correction from 1.5770 and turn bias back to the upside for retesting 1.5770. However, sustained break of 1.5226 will indicate larger reversal and target 1.4949 support next.

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). However, sustained break of 1.5226 will indicate trend reversal and target 1.3624 again.

Daily Pivots: (S1) 1.4932; (P) 1.4982; (R1) 1.5024; More….

EUR/AUD lost momentum after hitting 1.5031 and intraday bias is turned neutral again. Above 1.5031 will target 1.5173/5226 resistance zone first. Break will resume medium term rally from 1.3624. On the downside, below 1.4811 will turn bias to the downside and extend the fall from 1.5173 to retest 1.4421 support.

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 extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.6138; (P) 1.6165; (R1) 1.6210; More…

EUR/AUD’s rally accelerates to as high as 1.6254 so far today. The strong break of 1.6182 resistance confirms resumption of the choppy rise from 1.5250. Intraday bias stays on the upside for 1.6827 resistance next. On the downside, below 1.6150 minor support will turn intraday bias neutral and bring retreat first. but outlook will stay bullish as long as 1.5898 support holds, in case of retreat.

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 1.5898 support will indicate that the rebound has completed and bring retest of 1.5250 low.

Daily Pivots: (S1) 1.4946; (P) 1.5046; (R1) 1.5097; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, break of 1.4961 minor support will argue that rebound from 1.4318 has completed as a three wave corrective move. That came after missing 1.5354 support turned resistance and 100% projection of 1.4318 to 1.5053 from 1.4597 at 1.5332. Intraday bias will be back on the downside for 1.4597 support first. On the upside, however, firm break of 1.5332/54 will argue that the larger trend is reversing. Next target is 161.8% projection at 1.5786.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend form 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) 1.5996; (P) 1.6042; (R1) 1.6103; More…

EUR/AUD is staying in consolidation from 1.6128 and intraday bias remains neutral first. 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) 1.6113; (P) 1.6185; (R1) 1.6249; More….

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.6051 will extend the correction from 1.6353. But downside should be contained well above 1.5886 cluster support (61.8% retracement of 1.5601 to 1.6353 at 1.5888) to bring rise resumption. On the upside, above 1.6252 will target a retest on 1.6353. Break there will resume larger up trend and should target 1.6587 key resistance next.

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 1.5886 resistance turned support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.

Daily Pivots: (S1) 1.6272; (P) 1.6323; (R1) 1.6409; More…

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.6299 will will bring retest of 1.6033 low . On the upside, break of 1.6505 resistance will extend the consolidation from 1.6033 with another rising leg, and turn bias to the upside for 1.6827.

In the bigger picture, current development suggests that price actions form 1.9799 might be developing into a sideway pattern only. That is, medium term outlook is just neutral, and up trend from 1.1602 (2012 low) could resume at a later stage. On the downside, though, sustained trading below 55 week EMA (now at 1.6463) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.6484; (P) 1.6522; (R1) 1.6548; More…

Intraday bias in EUR/AUD stays neutral and range trading continues. 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.

Daily Pivots: (S1) 1.5153; (P) 1.5241; (R1) 1.5304; More…

Intraday bias in EUR/AUD stays neutral for the moment. The larger down trend is still expected to continue as long as 1.5354 support turned resistance holds. On the downside, break of 1.4920 minor support should resume larger down trend to 161.8% projection of 1.6343 to 1.5354 from 1.6223 at 1.4476. However, sustained break of 1.5354 will bring stronger rise back towards 1.6223 resistance.

In the bigger picture, fall from 1.9799 is seen as a long term impulsive move. Next target is 61.8% projection of 1.9799 to 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). Some support could be seen there to bring interim rebound. But overall, break of 1.5354 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 1.6881; (P) 1.6919; (R1) 1.6972; More…

EUR/AUD’s rally continues and intraday bias stays on the upside. Current rally is part of the up trend from 1.4281. Next target is 1.7377 projection level next. On the downside, break 1.6737 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will stay bullish as long as 1.5846 support holds, even in case of another pull back.

EUR/AUD’s down trend resumed by breaking through 1.6211 support last week. While downside momentum is a bit unconvincing, there is no sign of bottoming yet. Initial bias is on the downside this week for 61.8% projection of 1.6679 to 1.6211 from 1.6418 at 1.6129. Firm break there will target 100% projection at 1.5950. On the upside, above 1.6272 minor resistance will 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). In case of deeper fall, strong support is expected around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.7062 is in favor as a later stage.

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 1.5970) 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.

EUR/AUD gyrated higher last week but continued to lose up side moment as see in 4 hour MACD. Further rally is expected as long as 1.6053 support holds. Focus is now on 1.6389/6434 cluster resistance zone. Decisive break there will carry larger bullish implications. However, break of 1.6053 will indicate short term topping and turn bias back to the downside for 1.5848 support and possibly below.

In the bigger picture, focus stays on 1.6389/6434 cluster resistance (38.2% retracement of 1.9799 to 1.4281 at 1.6389). Sustained break there should confirm that whole down trend from 1.9799 (2020 high) has completed. Further rally should then be seen to 61.8% retracement at 1.7691. However, rejection by this cluster resistance will make medium term outlook neutral at best.

In the longer term picture, the strong break above 55 month EMA (now at 1.5616) raised the chance of bullish trend reversal. Firm break of 1.6434 resistance should confirm that the down trend from 1.9799 has completed. It’s still early to decide if the up trend from 1.1602 (2012 low) is resuming. An assessment will be made after rise from 1.4281 reveals more of its structure.

Daily Pivots: (S1) 1.5279; (P) 1.5362; (R1) 1.5484; More….

EUR/AUD’s strong rebound suggest short term bottoming at 1.5153, on bullish convergence condition in 4 hour MACD. Intraday bias is turned back to the upside for retesting 1.5770 high. On the downside, 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, decline from 1.5770 just breached 1.5226 key support briefly and recovered. The development is reviving the bullish case that rise from 1.3624 is still in progress. But considering bearish divergence condition in daily MACD, we’d prefer to see firm break of 1.5770 resistance to confirm. On the downside, sustained trading below 55 week EMA (now at 1.4950) will likely bring retest of 1.3624 support. Overall, there is still prospect of another medium term rally as long as 61.8% retracement of 1.1602 to 1.6587 at 1.3506 holds.

Daily Pivots: (S1) 1.5377; (P) 1.5400; (R1) 1.5433; More…

Intraday bias in EUR/AUD stays neutral first. Also, outlook remains bearish 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) 1.5754; (P) 1.5769; (R1) 1.5904; More…

EUR/AUD’s rebound from 1.5714 was rejected by 4 hour 55 EMA. But downside is held well above 1.5714 low. Intraday bias remains neutral first. Consolidation from 1.5721 might extend further. But upside should be limited by 1.6122 resistance to bring fall resumption eventually. On the downside, decisive break of 1.5271 will resume the fall from 1.6765 and target 1.5346 support next.

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) 1.4066; (P) 1.4118; (R1) 1.4156; More…

EUR/AUD is staying in range of 1.3872/4309 and intraday bias remains neutral. We’re holding on to the view of trend reversal after defending key support level at 1.3671. Another rise is expected as long as 1.3872 minor support holds. Break of 1.4309 will extend the rebound from 1.3624 to 1.4721 key resistance level next. Break should confirm larger trend reversal. However, firm break of 1.3872 support will dampen our bullish view. In such case, intraday bias will be turned back to the downside for 1.3624 low 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 testing 1.3671 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) 1.6159; (P) 1.6210; (R1) 1.6254; More…

No change in EUR/AUD’s outlook as corrective pull back from 1.6448 is in progress. We’d expect downside to 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 1.6765 high. However, firm break of 1.6052 support will near term outlook bearish for 1.5683 support again.

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) 1.5646; (P) 1.5673; (R1) 1.5711; More….

Outlook in EUR/AUD remains unchanged. Further decline is expected with 1.5853 resistance intact, for 1.5601 support next. Decisive break there will target 1.5271/5313 cluster support zone next. On the upside, break of 1.5853 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

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.