Daily Pivots: (S1) 1.5067; (P) 1.5118; (R1) 1.5149; More….

No change in EUR/AUD’s outlook as consolidation from 1.5392 extends. With 1.4949 support intact, outlook remains bullish and further rally is expected. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

Daily Pivots: (S1) 1.5879; (P) 1.5931; (R1) 1.5959; More…

EUR/AUD drops notably today but stays inside range of 1.5721/6122. Intraday bias remains neutral first and more consolidation could still be seen. On the downside, break of 1.5721 low will confirm this case and target 1.5346 support next. On the upside, though, break of 1.6122 will extend the pattern from 1.5721 with another rise.

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) 1.6630; (P) 1.6702; (R1) 1.6759; More…

Range trading continues in EUR/AUD and intraday bias stays neutral. On the upside, sustained break of 1.6843/4 will resume the rebound from 1.6319 for retesting 1.7062 high next. On the downside, however, below 1.6631 minor support will turn bias back to the downside for 1.6449 support instead.

In the bigger picture, while 1.7062 is a medium term top, there is no clear sign of trend reversal as EUR/AUD continues to draw strong support from the medium term trend line. Break of 1.7062 will resume the larger up trend from 1.4281 (2022 low) to 1.7691 fibonacci level. Nevertheless, break of 1.6449 support will argue that deeper correction is underway to 38.2% retracement of 1.4281 to 1.7062 at 1.6000.

Daily Pivots: (S1) 1.5912; (P) 1.5954; (R1) 1.5988; More…

EUR/AUD’s rally resumes today by breaking 1.5994 temporary top. Intraday bias is back on the upside for 1.6122 resistance. As note before, we’d continue to favor the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. Decisive break of 1.6122 will confirm this bullish view and target retesting 1.6765 high. For now, near term outlook will stay cautiously bullish as long as 1.5920 minor support holds, in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still 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) 1.6125; (P) 1.6165; (R1) 1.6206; More…

EUR/AUD surges to as high as 1.6252 so far and intraday bias remains on the upside. Corrective fall from 1.6765 has completed at 1.5683 already. Further rise should now be seen to retest 1.6765 high. On the downside, below 1.6127 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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) 1.5058; (P) 1.5126; (R1) 1.516; More….

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5392 continues. As long as 1.4949 support holds, outlook remains bullish. Medium term rally from 1.3624 is in favor to continue. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

Daily Pivots: (S1) 1.6370; (P) 1.6427; (R1) 1.6493; More…

EUR/AUD is staying in consolidation from 1.6267 and intraday bias remains neutral at this point. Outlook stays bearish as long as 55 D EMA (now at 1.6593) holds. On the downside, break of 1.6267 will resume larger 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) 1.4645; (P) 1.4685; (R1) 1.4714; More…

Intraday bias in EUR/AUD remains neutral for consolidation below 1.4777 temporary top. We’d holding on to the view 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.

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.

Daily Pivots: (S1) 1.5788; (P) 1.5826; (R1) 1.5857; More…

As long as 1.5743 resistance turned support holds, further rise is still in favor in EUR/AUD. Above 1.5980 minor resistance will turn bias to the upside for 1.6168 first. Break will resume rise form 1.5354 to 1.6434 resistance next. However, firm break of 1.5743 will indicate that rebound from 1.5354 is over and bring deeper fall back to 1.5250/5354 support zone.

In the bigger picture, medium term outlook is neutral for the moment. Rise from 1.5354 is seen as the third leg of the corrective pattern from 1.5250 low first. Further rise could be seen through 1.6434 towards 38.2% retracement of 1.9799 to 1.5250 at 1.6988. On the downside, however, sustained trading below 55 day EMA (now at 1.5759) will turn focus back to 1.5250 low instead.

Daily Pivots: (S1) 1.5373; (P) 1.5425; (R1) 1.5489; More…

EUR/AUD is staying in consolidation from 1.5704 and intraday bias remains neutral. In case of deeper retreat, downside should be contained by 55 day EMA (now at 1.5244) 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) 1.6376; (P) 1.6423; (R1) 1.6472; More…

EUR/AUD’s consolidation from 1.6786 is still in progress and intraday bias remains neutral. In case of another fall, downside should be contained by 1.6247 resistance turned support to bring rise resumption. On the upside, firm break of 1.6786 will resume larger up trend to 1.7488 projection level.

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.

EUR/AUD surged to as high as 1.7069 last week and resumed larger up trend from 1.1602. Initial bias remains on the upside for 161.8% projection of 1.5962 to 1.6593 from 1.6085 at 1.7106. Break will target 200% projection at 1.7347 next. On the downside, below 1.6827 minor support will turn intraday bias neutral first. But downside of retreat should be contained by 1.6593 resistance turned support to bring another rally.

In the bigger picture, up trend from 1.1602 (2012 low) has just resumed and persistent strong support from 55 week EMA affirm medium term bullishness. 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 is next target. For now, outlook will remain bullish as long as 1.5906 support holds, in case of retreat.

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 1.5962 remains intact. Break of 1.7488 will target 100% projection of 1.1602 to 1.6597 from 1.3524 at 1.8619.

Daily Pivots: (S1) 1.6115; (P) 1.6266; (R1) 1.6342; More…

EUR/AUD drew some support from 1.6085 and recovers today. But there is clear sign of bottoming yet. Further fall is expected and firm break of 1.6085 will target 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) 1.5538; (P) 1.5600; (R1) 1.5651; More…

Intraday bias in EUR/AUD stays neutral for the moment. On the upside, break of 1.5704 will resume the rally from 1.4281 to 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. However, on the downside, break of 1.5412 minor support will turn bias to the downside for deeper pull back.

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) 1.6307; (P) 1.6338; (R1) 1.6363; More…

Range trading in EUR/AUD continues and intraday bias stays neutral at this point. On the downside, firm break of 1.6211 support will resume the whole decline from 1.6742, as the third leg of the correction from 1.7062. On the upside, above 1.6403 will resume the rebound from 1.6211 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.

Daily Pivots: (S1) 1.6159; (P) 1.6209; (R1) 1.6266; More…

Intraday bias in EUR/AUD stays on the upside for the moment. Corrective fall from 1.6785 should have completed with three waves down to 1.5846. Further rise should be seen to 1.6513 resistance next. On the downside, though, break of 1.6142 minor support will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, price actions from 1.6785 are seen as a correction to up trend from 1.4281 (2022 low) only. Strong support should be seen around 38.2% retracement of 1.4281 to 1.6785 at 1.5828 to complete the first leg and bring rebound. However, sustained trading below 1.5828 will raise the chance of trend reversal and target 61.8% retracement at 1.5238.

Daily Pivots: (S1) 1.5814; (P) 1.5847; (R1) 1.5892; More…

Intraday bias in EUR/AUD is back on the upside as recent rise resumes. Sustained trading above 38.2% retracement of 1.6827 to 1.5250 at 1.5852 will bring stronger rise to 1.6033 key support turned resistance. On the downside, break of 1.5699 support will turn bias back to the downside for 1.5418 support instead.

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. However, firm break of 1.6033 will argue that such decline has completed, and turn focus to 1.6827 structural resistance for confirmation.

Daily Pivots: (S1) 1.6264; (P) 1.6328; (R1) 1.6399; More…

EUR/AUD rises to as high as 1.6484 so far today. Break of 1.6448 resistance indicates resumption of whole rise form 1.5683. Intraday bias stays on the upside for 1.6765 key resistance next. On the downside, below 1.6320 minor support will turn intraday bias neutral first. Downside of retreat should be contained by 1.6247 resistance turned support to bring rise resumption.

In the bigger picture, as long as 1.5346 support holds, medium term 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) 1.5682; (P) 1.5721; (R1) 1.5748; More…

Intraday bias in EUR/AUD remains neutral for the moment. Outlook is unchanged that corrective fall from 1.5976 has completed at 1.5254. Further rally is expected as long as 1.5650 resistance turned support holds. Break of 1.5826 will target a test on 1.5976 high. However, firm break of 1.5650 will delay the bullish case and extend the corrective pattern from 1.5976 with another falling leg.

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) 1.5611; (P) 1.5653; (R1) 1.5676; More….

EUR/AUD’s decline resumed after consolidation from 1.5575 entered rather quickly, dropping to as low as 1.5546 so far. Intraday bias is back on the downside. Current fall from 1.6357 should target 1.5271/5313 cluster support zone next. On the upside, though, break of 1.5693 resistance will now indicate short term bottoming. In that case, lengthier consolidation would be seen first before staging another decline.

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 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.