Daily Pivots: (S1) 1.5735; (P) 1.5787; (R1) 1.5820; More…

Intraday bias in EUR/AUD remains neutral for the moment. At this point, we’re slightly favoring the case the rebound from 1.5354 has completed with three waves up to 1.6168. Below 1.5655 will affirm this case and target 1.5354 and then 1.5250 low. However, above 1.5905 will turn bias back to the upside for retesting 1.6168 instead.

In the bigger picture, medium term outlook remains neutral for the moment. 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.

EUR/AUD’s fall from 1.6785 resumed and hit as low as 1.6134 last week. But the cross then recovered after drawing support from 55 D EMA (now at 1.6201). Initial bias remains neutral this week first. Considering bearish divergence condition in D MACD, fall from 1.6785 might be a correction to whole up trend from 1.4281. Break of 1.6134 will target 38.2 retracement of 1.4281 to 1.6785 at 1.5828, which is inside 1.5254/5976 support zone. Nevertheless, sustained break of 1.6354 minor resistance will turn bias back to the upside for retesting 1.6785 high instead.

In the bigger picture, whole down trend from 1.9799 (2020 high) should have completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.

In the longer term picture, it’s still early to decide if rise from 1.4281 is resuming whole up trend from 1.1602 (2012 low). Attention will be paid on the structure on the current rally to make an assessment later.

Daily Pivots: (S1) 1.6000; (P) 1.6115; (R1) 1.6178; More….

A temporary top is in place at 1.6228 in EUR/AUD with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first. Further rally is expected as long as 1.5884 resistance turned support holds. On the upside, above 1.6228 will extend the rise from 1.5346 to retest 1.6357 high. At this point, we’d be cautious on topping around there to bring pull back. On the downside, break of 1.5884 will indicate near term reversal and turn bias back to the downside for 1.5346 support.

In the bigger picture, no change in the view that 1.6357 is a medium term top. But the strong rebound ahead of 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313) suggests price actions from 1.6357 are developing into sideway consolidation, rather than a deep correction. The range of 1.5271/6357 is likely set for the consolidation. And we don’t expect a break of the range any time soon. But decisive break of 1.6357 will resume the larger up trend from 1.3624 (2017 low) to 1.6587 (2015 high).

Daily Pivots: (S1) 1.5635; (P) 1.5695; (R1) 1.5757; More….

EUR/AUD’s rally continues today and breach of 1.5770 resistance suggests that medium term rise from 1.3264 is resuming. Intraday bias remains on the upside. Sustained trading above 1.5770 will pave the way to 1.6587 key long term support. Nonetheless, below 1.5633 minor support will dampen this bullish case and turn intraday bias neutral first.

In the bigger picture, 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’s strong rebound last week suggest that fall from 1.6432 has completed at 1.5976. Initial bias is mildly on the upside this week for 1.6432 first. however, break of 1.6089 minor support will turn bias back to the downside for 1.5894/5905. Decisive break there will carry larger bearish implications.

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 1.6063) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

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. This will remain the favored case as long as 1.5894 remains intact. However, firm break of 1.5894 will be an early sign of major topping and turn focus to 1.5346 key support for confirmation.

Daily Pivots: (S1) 1.6551; (P) 1.6630; (R1) 1.6683; More…

EUR/AUD’s deeper decline from 1.6742 and break of 1.6578 minor support mixes up the near term outlook. Intraday bias is back on the downside for 1.6450 support first. Decisive break there will argue that whole rebound from 1.6127 has completed with three waves up to 1.6742, and turn near term outlook bearish. On the upside, though, break of 1.6742 will resume this rebound.

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) 1.5476; (P) 1.5514; (R1) 1.5543; More….

EUR/AUD’s rally resumed after brief consolidation and reaches as high as 1.5623 so far. Intraday bias is back on the upside. Current medium term rally from 1.3624 should target 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, break of 1.5483 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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) 1.5390; (P) 1.5487; (R1) 1.5539; More…

EUR/AUD’s decline continues today and hits as low as 1.5382 so far. Intraday bias stays on the downside for 1.5250/5354 support zone. Decisive break there will resume larger down trend from 1.9799. Next near term target will be 100% projection of 1.6343 to 1.5354 from 1.6223 at 1.5143. On the upside, break of 1.5679 resistance is needed to indicate short term bottoming. Otherwise, outlook stays bearish in case of recovery.

In the bigger picture, price actions from 1.5250 low are seen as a corrective pattern. Further extension could be seen and another rise cannot be ruled out. But strong resistance should be seen at 38.2% retracement of 1.9799 to 1.5250 at 1.6988. Larger down trend from 1.9799 (2020 high) is in favor to extend through 1.5250 at a later stage. Next target is 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733

Daily Pivots: (S1) 1.4134; (P) 1.4179; (R1) 1.4213; More…

Intraday bias in EUR/AUD remains neutral at this point. Price action from 1.4025 are seen as a corrective pattern and thus maintain near term bearishness. Below 1.4025 will resume the larger fall from 1.6587 to key support level at 1.3671. We’d expect downside to be contained there to bring reversal. Meanwhile, above 1.4251 minor resistance will turn focus back to 1.4721 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a consolidative pattern. 50% retracement of 1.1602 to 1.6587 at 1.4095 was already met. While further fall cannot be ruled out, we’d expect strong support above 1.3671 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 be the first sign of resumption of up trend from 1.1602 and target retesting of 1.6587 high first.

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Daily Pivots: (S1) 1.5454; (P) 1.5485; (R1) 1.5547; More…

EUR/AUD is still bounded in sideway consolidation from 1.5704 and intraday bias remains neutral. In case of another fall, downside should be contained by 55 day EMA (now at 1.5332) to bring rebound. On the upside, decisive 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) 1.5193; (P) 1.5269; (R1) 1.5339; More…

Intraday bias in EUR/AUD is turned neutral with current retreat. Focus stays on 1.5354 support turned resistance. Sustained break there will indicate medium term bottoming at 1.4318. Stronger rally would be seen back to 100% projection of 1.4318 to 1.5277 from 1.4759 at 1.5718. On the downside, however, break of 1.5083 minor support will turn bias back to the downside for 1.4759 support instead.

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) 1.6602; (P) 1.6643; (R1) 1.6694; More…

Range trading continues in EUR/AUD and intraday bias stays neutral at this point. Further rally is expected as long as 1.6550 support holds. Above 1.6843 will target a test on 1.7062 high. 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.

EUR/AUD surged to as high as 1.9799 last week, then formed a short term top there and treated. Initial bias stays neutral this week for more consolidations. Downside should be contained by 61.8% retracement of 1.6085 to 1.9799 at 1.7504 to bring rebound. On the upside, break of 1.9799 will resume larger up trend.

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.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress next target would be the resistance zone between 2.1127 (2008 high) and 161.8% projection of 1.1602 to 1.6597 from 1.3524 at 2.1706.

Daily Pivots: (S1) 1.6233; (P) 1.6299; (R1) 1.6391; More…

Intraday bias in EUR/AUD remains neutral for consolidation above 1.6033 temporary low. Further decline is expected as long as 1.6772 resistance holds. Firm break of 1.6085 support will pave the way to next support level at 1.5346. Nevertheless, break of 1.6772 resistance will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, the firm break of 1.6597 key cluster support, (2015 high and 38.2% retracement of 1.1602 to 1.9799 at 1.6668, 55 week EMA (now at 1.6553) suggests that whole up trend from 1.1602 (2012 low) might have completed. Deeper fall would now be seen to 61.8% retracement at 1.4733. This week remain the preferred case now as long as 1.7194 resistance holds.

Daily Pivots: (S1) 1.5290; (P) 1.5349; (R1) 1.5431; More…

Immediate focus is now on 1.5425 minor resistance. Firm break there should confirm short term bottoming at 1.5254, after defending 1.5271 key support. Intraday bias will then be turned back to the upside for 55 day EMA (now at 1.5509) and above. On the downside, decisive break of 1.5271 will carry larger bearish implication and bring deeper fall to 61.8% retracement of 1.4281 to 1.5976 at 1.4928.

In the bigger picture, it’s still early to confirm if rise from 1.4281 represents bullish trend reversal. But as long as 1.5271 support holds, such rally is in favor to continue. Break of 1.5976 will target 1.6434 key resistance next. On the other hand, firm break of 1.5271 will retain medium term bearishness instead.

EUR/AUD stayed in consolidation above 1.6134 last week and outlook is unchanged. Initial bias stays neutral this week first. Fall from 1.6785 might be a correction to whole up trend from 1.4281. Break of 1.6134 will target 38.2 retracement of 1.4281 to 1.6785 at 1.5828, which is inside 1.5254/5976 support zone. Nevertheless, sustained break of 1.6354 minor resistance will turn bias back to the upside for retesting 1.6785 high instead.

In the bigger picture, whole down trend from 1.9799 (2020 high) should have completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.

In the longer term picture, it’s still early to decide if rise from 1.4281 is resuming whole up trend from 1.1602 (2012 low). Attention will be paid on the structure on the current rally to make an assessment later.

Daily Pivots: (S1) 1.6353; (P) 1.6387; (R1) 1.6433; More…

No change in EUR/AUD’s outlook. Corrective fall from 1.6786 might extend. But downside should be contained by 1.6247 resistance turned support to bring rise resumption. On the upside, above 1.6594 minor resistance will turn bias back to the upside for retesting 1.6786 resistance first. Break will resume larger up trend. However, firm break of 1.6247 will turn focus back to 1.5894 support instead.

In the bigger picture, outlook remains bullish as up trend from 1.1602 (2012 low) is resuming. Strong support from 55 week EMA indicates medium term bullishness. Next upside target is 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. In any case, break of 1.5894 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.5627; (P) 1.5672; (R1) 1.5725; More….

Intraday bias in EUR/AUD stays neutral as consolidation from 1.5816 is in progress. Again, near term outlook will remain cautiously bullish with 1.5606 support holds. On the upside, 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. Meanwhile, 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 1.5514) and below.

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) 1.6153; (P) 1.6198; (R1) 1.6236; More…

EUR/AUD’s fall from 1.6786 continues today an intraday bias remains on the downside. Deeper decline would be seen back to retest 1.5894 support. Break will target 1.5346 support next. On the upside, above 1.6247 minor resistance will turn bias neutral again first.

In the bigger picture, outlook remains bullish and up trend from 1.1602 (2012 low) is still in progress. Prior support from 55 week EMA indicates medium term bullishness. Next upside target is 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. In any case, break of 1.5894 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.5919; (P) 1.5968; (R1) 1.6010; More….

EUR/AUD breached 1.6038 resistance but failed to sustain above yet. Intraday bias stays neutral first. On the upside, decisive break of 1.6038 will confirm completion of fall from 1.6765 at 1.5721. In such case, intraday bias will be turned back to the upside for retesting 1.6765. On the downside, break of 1.5721 will extend the decline to 1.5346 support instead.

In the bigger picture, the failure to sustain above 1.6587 key resistance (2015 high) argues that up trend from 1.1602 (2012 low) is not ready to resume yet. But still, as long as 1.5346 support holds, outlook will remain bullish. 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.