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) 1.5497; (P) 1.5550; (R1) 1.5619; More…

EUR/AUD is staying in consolidation from 1.5747 and intraday bias stays neutral. As long as 1.5271 support holds, further rally is expected. On the upside, firm break of 1.5747 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, as long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. However, firm break of 1.5271 will argue that such rebound has completed, and keep medium term outlook neutral at best. But in this case, more range trading should be seen above 1.4281 low first.

EUR/AUD’s fall from 1.5396 resumed last week and hit as low as 1.4391. Initial bias stays on the downside this week for 1.4318 support. Firm break there will resume larger down trend to medium term projection level at 1.3623. On the upside, break of 1.4804 resistance is needed to indicate short term bottoming. Otherwise, risk will stay on the downside in case of recovery.

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 1.5656) holds.

Daily Pivots: (S1) 1.6482; (P) 1.6592; (R1) 1.6659; More…

Further rise is expected in EUR/AUD with 1.6491 support intact. As noted before, corrective fall from 1.7062 should have completed with three waves down to 1.5998. Firm break of 1.6742 will argue that larger up trend is going to resume through 1.7062 high. On the downside, however, break of 1.6491 support will delay the bullish case and bring retreat 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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 55 D EMA (now at 1.6296) holds.

EUR/AUD’s pull back from 1.5226 extended lower last week and broke 38.2% retracement of 1.3980 to 1.5226 at 1.4750. It’s pressing 1.4669 support. At this point, we’re expecting strong support around 1.4669, near term 55 days EMA at 1.4685, to contain downside and bring rebound. Break of 1.4897 minor resistance will turn bias back to the upside for retesting 1.5226 high first. However, sustained break of 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back to 1.4309 resistance turned support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

In the longer term picture, the rise from 1.1602 long term bottom isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, sustained trading below 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.6594; (P) 1.6709; (R1) 1.6776; More…

EUR/AUD’s decline from 1.9799 is still in progress and intraday bias remains on the downside. Focus stays on 1.6597 key support level. Firm break there will carry larger bearish implications and target 1.6085 support next. Though, rebound from current level would retain medium term bullishness. Break of 1.7321 resistance will indicate short term bottoming and turn bias back to the upside.

In the bigger picture, while the pull back from 1.9799 is deep, there is no clear sign of trend reversal yet. EUR/AUD is still holding on to 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668. Larger rise from 1.1602 (2012 low) is in progress and would resume at a later stage. However, sustained break of 1.6597 suggest bearish reversal.

Daily Pivots: (S1) 1.6303; (P) 1.6354; (R1) 1.6438; More…

Intraday bias in EUR/AUD remains neutral for the moment as range trading continues. On the upside, decisive break of 1.6434 resistance will carry larger bullish implications. However, 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) 1.5841; (P) 1.5922; (R1) 1.5983; More…

Intraday bias in EUR/AUD remains neutral at this pint. Further rise remains mildly in favor with 1.5776 support intact. Above 1.6223 will resume whole rise from 1.5354 to 1.6434 resistance first. However, break of 1.5776 will turn bias back to the downside for 1.5559 support instead.

In the bigger picture, 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) 1.4934; (P) 1.4972; (R1) 1.5007; More…

Intraday bias in EUR/AUD remains on the upside for 1.5073 resistance. Outlook is unchanged that correction from 1.5226 should have completed with three waves down to 1.4421 already. Firm break of 1.5073 will likely resume the rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 next. On the downside, however, break of 1.4824 support will dampen our bullish view and turn bias back to the downside for 1.4564 support instead.

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 fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, another decline will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.5708; (P) 1.5749; (R1) 1.5808; More…

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.5657 will target 1.5148 support first. Firm break there will confirm that consolidation pattern from 1.5250 has completed just missing 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the upside, however, sustained break of 1.5852 will bring further rally back to 1.6033 support turned resistance.

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.

EUR/AUD’s fall from 1.4721 resumed last week and reached as low as 1.4138. At this point, there is no clear indication of resumption of larger decline yet. Still, as long as 1.4322 support turned resistance holds, deeper fall is mildly in favor to 1.4072 low. Decisive break there will extend the correction from 1.6587 towards next key support level 1.3671. On the upside, above 1.4322 support turned resistance will turn bias back to the upside for 1.4467 and above.

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 1.4880 resistance will be the first sign of resumption of up trend from 1.1602 and target retesting of 1.6587 resistance first.

In the longer term picture, the rise from 1.1602 long term bottom isn’t over yet. We’ll keep monitoring the development but there is prospect of extending the rise to 61.8% retracement of 2.1127 to 1.1602 at 1.7488 and above. However, break of 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

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Daily Pivots: (S1) 1.6510; (P) 1.6559; (R1) 1.6640; More…

EUR/AUD rebounded strongly, but stays in range below 1.6671 and intraday bias remains neutral. 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 1.6458 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) 1.5523; (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) 1.6536; (P) 1.6594; (R1) 1.6677; More…

Intraday bias in EUR/AUD stays neutral for the moment and consolidation from 1.6452 could extend further. But further decline is expected with 1.6793 resistance intact. Fall from 1.7062 is seen as a larger scale correction. Below 1.6452 will target 1.6000 fibonacci level. Nevertheless, firm break of 1.6793 will dampen this view and bring retest of 1.7062 instead.

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.

Daily Pivots: (S1) 1.5660; (P) 1.5728; (R1) 1.5764; More…

Intraday bias in EUR/AUD remains neutral and outlook stays bearish with 1.5830 resistance intact. On the downside, break of 1.5591 will resume larger down trend for 161.8% projection of 1.6827 to 1.6144 from 1.6420 at 1.5315 next. However, break of 1.5830 will bring stronger rebound to falling channel resistance (now at 1.5942).

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) 1.6083; (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) 1.4394; (P) 1.4470; (R1) 1.4540; More…

Further decline is expected in EUR/AUD despite some loss of downside momentum. Next target is 1.4318 low. Firm break there will resume larger down trend to medium term projection level at 1.3623. On the upside, break of 1.4804 resistance is needed to indicate short term bottoming. Otherwise, risk will stay on the downside in case of recovery.

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.

Daily Pivots: (S1) 1.4722; (P) 1.4773; (R1) 1.4859; More…

Intraday bias in EUR/AUD stays neutral as range trading continues. On the upside, above 1.4880 will resume the rebound from 1.4281 short term bottom, and target 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.

Daily Pivots: (S1) 1.4117; (P) 1.4165; (R1) 1.4201; More…

No change in EUR/AUD’s outlook. At this point, there is no clear indication of resumption of larger decline yet. Above 1.4332 support turned resistance will turn bias back to the upside to extend recent sideway trading. Nonetheless, decisive break of 1.4072 low will extend the correction from 1.6587 towards next key support level 1.3671.

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 1.4880 resistance will be the first sign of resumption of up trend from 1.1602 and target retesting of 1.6587 resistance first.

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Daily Pivots: (S1) 1.6386; (P) 1.6431; (R1) 1.6463; More…

EUR/AUD is still bounded in consolidation from 1.6033 and intraday bias remains neutral first. Outlook stays bearish with 1.6772 resistance intact and further decline is expected. On the downside, firm break of 1.6033 will resume the fall 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.