Daily Pivots: (S1) 1.5604; (P) 1.5639; (R1) 1.5667; More…

EUR/AUD failed to break through 1.5689 resistance and retreated. Intraday bias is turned neutral first. Consolidation pattern from 1.5250 could still extend. Break of 1.5672 will target 38.2% retracement of 1.6827 to 1.5250 at 1.5852. nevertheless, break of 1.5526 will turn bias back to the downside for 1.5355 support and below.

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) 1.6083; (P) 1.6133; (R1) 1.6210; More….

EUR/AUD’s rebound from 1.5984 is in progress but upside is held below 1.6252 resistance so far. Intraday bias remains neutral first. Price actions from 1.6353 are seen as a correction. In case of another fall, downside should be contained above 1.5886 cluster support (61.8% retracement of 1.5601 to 1.6353 at 1.5888) to bring rebound and then rise resumption. On the upside, break of 1.6252 resistance will target a retest on 1.6353 first.

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) 1.6138; (P) 1.6262; (R1) 1.6335; More…

Intraday bias in EUR/AUD remains on the downside for 1.6134 support. Firm break there will resume whole fall from 1.6785, and target 100% projection of 1.6785 to 1.6134 from 1.6513 at 1.5862. On the upside, above 1.6296 minor resistance will turn intraday bias neutral first.

In the bigger picture, a medium term is possibly in place at 1.6785 already, on bearish divergence condition in D MACD. Fall from there is seen as corrective whole up trend from 1.4281 (2022 low). Deeper decline is expected as long as 1.6513 resistance holds, to 38.2% retracement of 1.4281 to 1.6785 at 1.5828.

Daily Pivots: (S1) 1.6502; (P) 1.6565; (R1) 1.6625; More…

Range trading continues in EUR/AUD and intraday bias remains neutral. With 1.6650 resistance intact, fall from 1.7062 is still expected to continue. Below 1.6446 minor support will bring retest of 1.6319 first. Break there will resume the decline to 1.6000 fibonacci level. On the upside, firm break of 1.6650 resistance will argue that pull back from 1.7062 has completed, after drawing support from medium term rising trend line. Further rally would be seen back to retest 1.7062.

In the bigger picture, fall from 1.7062 is probably correcting 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, at least on first attempt. This will remain the favored case as long as 1.6650 resistance holds.

Daily Pivots: (S1) 1.5949; (P) 1.5991; (R1) 1.6043; More…

A temporary top is formed at 1.6040 in EUR/AUD and intraday bias is turned neutral for consolidations. Downside of retreat should be contained by 1.5826 resistance turned support to bring another rally. Above 1.6040 will resume the larger rally to 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302.

In the bigger picture, the strong support from 55 week EMA (now at 1.5396) is raising the chance of bullish trend reversal. On break of 1.5976, focus will be on 1.6434 cluster resistance (38.2% retracement of 1.9799 to 1.4281 at 1.6389). Sustained break there should confirm that whole down trend form 1.9799 (2020 high) has completed. However, rejection by this cluster resistance will make medium term outlook neutral at best.

EUR/AUD dropped to as low as 1.6033 last week but recovered since then. Initial bias remains neutral this week first and some more consolidations could be seen. Outlook will remain bearish as long as 1.6772 resistance holds. On the downside, break of 1.6033 will extend the fall from 1.9799 to next support level at 1.5346.

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.

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 1.5713) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.5816; (P) 1.5876; (R1) 1.5982; More….

EUR/AUD’s rise continues today and reaches as high as 1.5998 so far. The break of 1.5976 high indicates resumption of medium term up trend from 1.3624. Intraday bias stays on the upside for 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. On the downside, below 1.5896 minor support will turn intraday bias neutral first. But outlook will now remain bullish as long as 1.5621 support holds.

In the bigger picture, current development suggests that 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 1.5153 support is needed to indicate medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

Daily Pivots: (S1) 1.5669; (P) 1.5717; (R1) 1.5741; More…

Intraday bias in EUR/AUD remains on the downside for retesting 1.5591 support. Break there will resume larger down trend and target 61.8% projection of 1.6409 to 1.5591 from 1.5945 at 1.5439. On the upside, however, break of 1.5945 resistance will resume the rebound from 1.5591 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 1.6827 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.5530; (P) 1.5591; (R1) 1.5643; More…

EUR/AUD retreated deeply after hitting 1.5650 and intraday bias is turned neutral again. Another rise is mildly in favor. Above 1.5650 will target 1.5749 resistance. Decisive break there will confirm that correction from 1.5976 has completed with three waves down, after drawing support from 1.5271. Further rally would be seen back to retest 1.5976 high. On the downside, break of 4 hour 55 EMA (now 1.5441) will turn bias back to the downside for retesting 1.5254 instead.

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 edged lower to 1.6453 last week as fall from 1.9799 extended. But so far, it couldn’t sustain below 1.6597 key support level and recovered. Initial bias remains neutral this week first. On the upside, firm break of 1.6892 resistance should confirm short term bottoming, and more importantly, successful defending of 1.6597 key support. Intraday bias will be turned back to the upside for retesting 1.7194 resistance first. On the downside, sustained trading below 1.6597 will carry larger bearish implication and target 1.6085 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 1.6553). 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.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress, with 2.1127 (2008 high) as next target. However, sustained break of 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668, will argue that such rally is completed. Outlook will then be turned bearish for 61.8% retracement at 1.4733.

Daily Pivots: (S1) 1.5381; (P) 1.5422; (R1) 1.5457; More…

Intraday bias in EUR/AUD stays mildly on the downside for 1.5250 support. Decisive break there will resume the larger down trend from 1.9799. Next target is 1.4733 long term fibonacci level. On the upside, above 1.5606 will extend the consolidation from 1.5250 with another rise, to 38.2% retracement of 1.6827 to 1.5250 at 1.5852.

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) 1.5631; (P) 1.5658; (R1) 1.5693; More….

Intraday bias in EUR/AUD remains on the downside with focus on 1.5626 support. Decisive break there extend the decline from 1.5976 to 61.8% retracement of 1.5153 to 1.5976 at 1.5467 and below. On the upside, above 1.5787 minor resistance will turn bias back to the upside for retesting 1.5976 high instead.

In the bigger picture, change of medium term reversal is increasing with EUR/AUD just missing double projection target. They are 61.8% projection of 1.4421 to 1.5770 from 1.5153 at 1.5987, and 100% projection of 1.3624 to 1.5226 from 1.4421at 1.6023. Also, bearish divergence condition remains in daily MACD. Break of 1.5626 support will add to this bearish case and target 1.5153 key support for confirmation. Nonetheless, before that happens, as long as 1.5153 support holds, medium term rise from 1.3624 could still extend to retest 1.6587 high.

Daily Pivots: (S1) 1.6173; (P) 1.6218; (R1) 1.6278; More…

Intraday bias in EUR/AUD remains neutral for consolidations above 1.6148 temporary low. Outlook will stay bearish as long as 1.6418 resistance holds. Firm break of 61.8% projection of 1.6679 to 1.6211 from 1.6418 at 1.6129 will pave the way to 100% projection at 1.5950.

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) 1.6427; (P) 1.6547; (R1) 1.6625; More…

Intraday bias in EUR/AUD stays on the downside as fall from 1.9799 is in progress. Sustained trading below 1.6597 key support will carry larger bearish implication. Further fall would be seen to 1.6085 support next. On the upside, break of 1.6763 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain cautiously bearish in case of recovery.

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 1.6548). 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) 1.5649; (P) 1.5740; (R1) 1.5794; More…

EUR/AUD’s fall from 1.6168 resumed by breaking 1.5655. The development affirms the case that recovery from 1.5354 has completed at 1.6168. Intraday bias is back on the downside for retesting 1.5250/5354 support zone. For now, further decline will be in favor as long as 1.5898 resistance holds, in case of recovery.

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.

Daily Pivots: (S1) 1.5687; (P) 1.5717; (R1) 1.5749; More…

Intraday bias in EUR/AUD stays on the downside as decline is accelerating downwards. Current down trend should target 161.8% projection of 1.6827 to 1.6144 from 1.6420 at 1.5315 next. On the upside, break of 1.5830 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

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.

Daily Pivots: (S1) 1.6132; (P) 1.6181; (R1) 1.6234; More..

Further decline could 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.

EUR/AUD’s rebound from 1.4281 short term bottom extended further to 1.4880 last week. But a temporary top was formed with subsequent retreat. Initial bias is neutral this week first. On the upside, above 1.4880 will resume the rebound towards 1.5396 resistance. On the downside, however, break of 1.4564 minor support will turn bias back to the downside for retesting 1.4281 low.

In the bigger picture, down trend from 1.9799 is still in progress. Break of 1.4318 low will target 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). This will remain the favored case now as long as 1.5396 resistance holds.

In the longer term picture, fall from 1.9799 (2020 high) is seen as the third leg of the pattern from 2.1127 (2008 high). Deeper fall should be seen to 1.3624 support. Decisive break there would pave the way back to 1.1602 (2012 low). This will remain the favored case as long as 55 month EMA (now at 1.5588) holds.

Daily Pivots: (S1) 1.6504; (P) 1.6546; (R1) 1.6604; More…

EUR/AUD accelerates higher today and intraday bias remains on the upside. Current up trend should target 100% projection of 1.4281 to 1.5976 from 1.5254 at 1.6949. On the downside, below 1.6530 minor support will turn intraday bias neutral and bring consolidations first. But near term outlook will remain bullish as long as 1.6219 support holds, in case of retreat.

In the bigger picture, the solid break of 1.6389/6434 cluster resistance (38.2% retracement of 1.9799 to 1.4281 at 1.6389) argues that whole down trend from 1.9799 (2020 high) has completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement 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.

Daily Pivots: (S1) 1.5659; (P) 1.5690; (R1) 1.5739; More….

EUR/AUD’s rebound from 1.5578 resumed by taking out 1.5725 resistance and reaches as high as 1.5762 so far. Intraday bias is back on the upside for retesting 1.5888 high. Firm break there will resume larger rise from 1.5271. On the downside, break of 1.5601 support will resume the fall from 1.5888 to 61.8% retracement of 1.5271 to 1.5888 at 1.5507 instead.

In the bigger picture, the rebound from 1.5271 was somewhat weaker than expected. EUR/AUD. But there is no confirmation of completion. Break of 1.5888 will likely target 1.6189 and above to resume the medium term rally from 1.3624 (2017 low). This will be the favored case as long as 1.5271 support holds.