Daily Pivots: (S1) 1.6553; (P) 1.6621; (R1) 1.6668; More…

Focus remains on 1.6538 support in EUR/AUD. Break will resume whole decline form 1.9799. Also, sustained trading below 1.6597 key support will carry larger bearish implication and target 1.5962 support next. On the upside, break of 1.7194 resistance should confirm short term bottoming and turn near term outlook bullish.

In the bigger picture, focus stays on 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 1.6532). Strong rebound from current level will retain medium term bullishness. Larger up trend from 1.1602 (2012 low) would extend through 1.9799 high. However, sustained break of 1.6597 will suggest bearish reversal and target 61.8% retracement at 1.4733.

Daily Pivots: (S1) 1.6160; (P) 1.6222; (R1) 1.6275; More…

EUR/AUD is staying in tight range below 1.6301 and intraday bias 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) 1.5534; (P) 1.5606; (R1) 1.5662; More…

Intraday bias in EUR/AUD remains neutral for the moment. But further rally is expected as long as 1.5271 support holds. On the upside, firm break of 1.5474 will resume larger rally from 1.4281. Next target is 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

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 1.5271 support is needed to indicate reversal. Otherwise, further rally will remain in favor.

Daily Pivots: (S1) 1.7048; (P) 1.7171; (R1) 1.7240; More…

EUR/AUD’s fall from 1.9799 resumed by taking out 1.7003 temporary low. Intraday bias is back on the downside for 1.6597 key support next. Sustained break there will carry larger bearish implications. on the upside, break of 1.7321 minor resistance will indicate short term bottoming and turn bias back to the upside for rebound.

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. However, sustained break 1.6597 will raise the chance of long term trend reversal and turn focus back to 1.3624 support.

EUR/AUD’s fall from 1.7062 extended lower last week and the development argues that it’s already in a larger scale correction. Initial bias stays on the downside this week first. Deeper fall would be seen to 1.6000 fibonacci level. On the upside, above 1.6647 support turned resistance will turn intraday bias neutral. But risk will stay on the downside as long as 1.7062 resistance holds.

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.

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). But in either case, further rally is in favor as long as 1.5846 support holds. Next target is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.

Daily Pivots: (S1) 1.5300; (P) 1.5349; (R1) 1.5434; More….

EUR/AUD is losing some downside momentum as seen in 4 hour MACD. But deeper decline is still expected with 1.5529 resistance intact. Current fall should target 1.5153 key support level. On the upside, break of 1.5529 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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.

Daily Pivots: (S1) 1.6331; (P) 1.6371; (R1) 1.6441; More…

Focus is back on 1.6434 key resistance with EUR/AUD trading to resume recent rally. Decisive break there will carry larger bullish implications. Nevertheless, considering bearish divergence condition in 4H MACD, firm break of 1.6216 should confirm short term topping, after rejection by 1.6389/6434 cluster resistance zone. Intraday bias will be back on the downside in this case, to 1.6033 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.

Daily Pivots: (S1) 1.5942; (P) 1.6001; (R1) 1.6056; More….

EUR/AUD is stuck in tight range of 1.5852/6084 and intraday bias remains neutral first. As long as 1.5857 minor support holds, further rally is expected in the cross. On the upside, above 1.6084 minor resistance will turn bias to the upside for retesting 1.6189 first. Break will resume larger rally towards 1.6587 key resistance. However, break of 1.5857 will be an early sign of trend reversal and turn bias to the downside for 1.5621 support to confirm.

In the bigger picture,rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

Daily Pivots: (S1) 1.6165; (P) 1.6221; (R1) 1.6281; More..

Another fall could still be seen in EUR/AUD with 1.6313 minor resistance holds. But considering bullish convergence condition in 4H MACD, stronger support could be seen from 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 to bring rebound. On the upside, firm break of 1.6313 resistance should indicate short term bottoming, and turn bias back to the upside for 1.6478 resistance.

In the bigger picture, fall from 1.7062 medium term top is seen as correcting the whole up trend from 1.4281 (2022 low). Deeper decline would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.

Daily Pivots: (S1) 1.6300; (P) 1.6339; (R1) 1.6410; More…

Intraday bias in EUR/AUD is turned neutral first with break of 1.6449 support turned resistance. Some consolidations should be seen first, but another fall is expected. Break of 1.6267 will resume the decline from 1.7062 to 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 next.

In the bigger picture, the break of medium term trend line support now suggests fall from 1.7062 correcting the whole up trend from 1.4281 (2022 low). Deeper decline would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.

Daily Pivots: (S1) 1.6135; (P) 1.6183; (R1) 1.6212; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.6259 will indicate that corrective pull back from 1.6448 has completed. And further rise should be seen back to retest 1.6448 high. On the downside, break of 1.6025 will extend the fall from 1.6448 to 1.5683 support and below.

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.

EUR/AUD’s down trend continued last week and there is no sign of bottoming yet. Initial bias remains on the downside this week. Firm break of 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715 will target 161.8% projection at 1.5279 next. On the upside, break of 1.5863 minor resistance will suggest short term bottoming. Intraday bias will be turned back to the upside for 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.

In the longer term picture rise from 1.1602 (2012 low) could have already completed with three waves up to 1.9799. The development suggests that long term range trading is extending with another medium term down leg. Sustained trading below 55 month EMA (now at 1.5847) now further affirms this case could bring deeper decline to 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6361; (P) 1.6440; (R1) 1.6484; More…

Intraday bias in EUR/AUD remains neutral at this point. On the downside, below 1.6368 will resume the fall from 1.6742 towards 1.6127 low. Nevertheless, break of 1.6516 will turn bias back to the upside for stronger 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). The correction is still in progress with fall from 1.6742 as the third leg. Strong support is expected around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

Daily Pivots: (S1) 1.6403; (P) 1.6485; (R1) 1.6584; More…

Intraday bias in EUR/AUD remains neutral as it’s still limited below 1.6586 resistance. 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 1.6449) 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) 1.5523; (P) 1.5578; (R1) 1.5639; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.5650 resistance will revive that case that correction from 1.5976 has completed at 1.5254. Intraday bias will be back on the upside for 1.5749 resistance first. On the downside, firm break of 1.5254/71 will carry larger bearish implication and resume the fall from 1.5976.

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.

Daily Pivots: (S1) 1.6189; (P) 1.6224; (R1) 1.6264; More….

EUR/AU’s sharp fall indicates temporary topping at 1.6252 and intraday bias is turned neutral. 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.

EUR/AUD’s extended rebound last week suggests short term bottoming at 1.6211, on bullish convergence condition in 4H MACD. Intraday bias stays mildly on the upside this week. Sustained trading above 55 D EMA (now at 1.6412) will argue that fall from 1.6742 has completed, and turn near term outlook bullish. On the downside, though, below 1.6322 minor support will bring retest of 1.6211 support 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). 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 1.5962) 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) 1.6742; (P) 1.6817; (R1) 1.6940; More…

Intraday bias in EUR/AUD remains neutral first and more sideway trading could be seen. On the upside, break of 1.7194 resistance should confirm short term bottoming. Stronger rise should then be seen to 38.2% retracement of 1.9799 to 1.6538 at 1.7784 next. On the downside, however, break of 1.6538 will indicate resumption of fall from 1.9799. More importantly, sustained trading below 1.6597 key support will carry larger bearish implication and target 1.5962 support next.

In the bigger picture, focus stays on 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 1.6544). Strong rebound from current level will retain medium term bullishness. Larger up trend from 1.1602 (2012 low) would extend through 1.9799 high. However, sustained break of 1.6597 will suggest bearish reversal and target 61.8% retracement at 1.4733.

Daily Pivots: (S1) 1.6352; (P) 1.6397; (R1) 1.6453; More…

EUR/AUD is staying in consolidation from 1.6033 and intraday bias remains neutral at this point. As long as 1.6772 resistance holds, further decline is expected. On the downside, firm break of 1.6033 will resume the decline from 1.9799 for next support level at 1.5346. On the upside, however, break of 1.6772 resistance will confirm short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall could be seen to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.7194 resistance holds.

Daily Pivots: (S1) 1.6160; (P) 1.6255; (R1) 1.6349; More…

EUR/AUD’s consolidation from 1.6033 extends with another rebounds but it’s staying below 1.6772 resistance. Intraday bias remains neutral first and another fall remains in favor. On the downside, break of 1.6033 will extend the fall from 1.9799 to next support level at 1.5346. However, break of 1.6772 will indicate short term bottoming and turn bias to the upside for 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.