Daily Pivots: (S1) 1.5650; (P) 1.5676; (R1) 1.5719; More….

EUR/AUD’s break of 1.5643 minor support suggests the corrective recovery from 1.5519 has completed at 1.5781 already. Intraday bias is back on the downside for retesting 1.5519 low first. Firm break there will resume whole fall from 1.6357 to 1.5271/5313 cluster support zone next. In case of another rise as consolidation from 1.5519 extends, upside should be limited by 38.2% retracement of 1.6357 to 1.5519 at 1.5839 to bring fall resumption eventually.

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.

Daily Pivots: (S1) 1.4049; (P) 1.4084; (R1) 1.4123; More…

EUR/AUD is staying in range of 1.3872/4309 and intraday bias remains neutral. We’re holding on to the view of trend reversal after defending key support level at 1.3671. Another rise is expected as long as 1.3872 minor support holds. Break of 1.4309 will extend the rebound from 1.3624 to 1.4721 key resistance level next. Break should confirm larger trend reversal. However, firm break of 1.3872 support will dampen our bullish view. In such case, intraday bias will be turned back to the downside for 1.3624 low instead.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after testing 1.3671 support. Break of 1.4721 cluster resistance (38.2% retracement of 1.6587 to 1.3624 at 1.4756) should confirm this case and target 61.8% retracement at 1.5455 and above. Overall, we’d expect the up trend from 1.1602 to resume later. However, sustained break of 1.3671 will invalidate our bullish view and would turn extend the fall from 1.6587 towards 1.1602 long term bottom.

EUR/AUD’s rally from 1.5846 continued last week and outlook is unchanged. Corrective fall from 1.6785 should have completed with three waves down to 1.5846. Initial bias remains on the upside this week for 1.6513 resistance. Firm break there will confirm this case and target 1.6785 high 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, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rally resumption. Rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.

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 1.5254 support holds. Next target is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.

EUR/AUD continued to stay in consolidation pattern from 1.5886 and outlook is unchanged. Initial bias remains neutral this week first. Further rise is expected with 1.5695 support holds. On the upside break of 1.5886 will resume the rebound from 1.5271 and target a test on 1.6189 high. Nonetheless, the momentum and structure of such rise from 1.5271 are not too convincing. Break of 1.5696 will suggest near term reversal and turn bias to the downside for 1.5425 support for confirmation.

In the bigger picture, current development suggests that fall from 1.6189 is a corrective move and has completed at 1.5217 already. Key support levels of 1.5153 and 38.2% retracement of 1.3624 to 1.6189 at 1.5209 were defended. And medium term rise from 1.3624 (2017 low) is still in progress. Break of 1.6189 will target 1.6587 key resistance (2015 high).

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) 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 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

EUR/AUD rebounded strongly after dipping to 1.4561, but upside is limited below 1.5354 support turned resistance. Initial bias remains neutral this week and further fall is still expected. On the downside, below 1.4789 minor support will turn intraday bias back to the downside for 161.8% projection of 1.6343 to 1.5354 from 1.6223 at 1.4476. However, sustained break of 1.5354 will bring further rise back towards 1.6623 resistance.

In the bigger picture, fall from 1.9799 is seen as a long term impulsive move. Next target is 61.8% projection of 1.9799 to 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). Some support could be seen there to bring interim rebound. But overall, break of 1.5354 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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).

Daily Pivots: (S1) 1.4343; (P) 1.4406; (R1) 1.4524; More…

Intraday bias in EUR/AUD remains neutral at this point. Further decline is still expected with 1.4712 resistance intact. On the downside, firm break of 1.4318 low will resume larger down trend to medium term projection level at 1.3623. On the upside, break of 1.4712 resistance will delay the bearish case and turn bias to the upside for stronger rebound first.

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.

EUR/AUD stayed in consolidation in range of 1.6439/6742 last week and outlook is unchanged. Initial bias remains neutral this week first. Near term outlook will stay cautiously bullish as long as 1.6439 support holds. On the upside, above 1.6677 will target 1.6742 first. Decisive break there will resume whole rise from 1.6127 and target 1.6844 resistance next.

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.

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 1.5932) 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) 1.6428; (P) 1.6529; (R1) 1.6584; More…

Range trading continues in EUR/AUD and intraday bias stays neutral for the moment. On the downside, below 1.6446 minor support will bring retest of 1.6319. Break there will resume the decline from 1.7062 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) 1.6266; (P) 1.6311; (R1) 1.6341; More….

EUR/AUD’s break of 1.6223 minor support suggests that a short term top is formed a 1.6353, on bearish divergence condition in 4 hour MACD. Intraday bias is mildly on the downside for deeper retreat to 38.2% retracement of 1.5601 to 1.6353 at 1.6066. But downside should be contained well above 1.5886 cluster support (61.8% retracement at 1.5888) to bring rise resumption. On the upside, break of 1.6353 will resume larger up trend to 1.6587 key resistance level.

In the bigger picture, up trend from 1.3624 (2017 low) has just resumed. 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 1.5601 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) 1.5093; (P) 1.5146; (R1) 1.5210; More….

EUR/AUD is staying in consolidation from 1.5392 and intraday bias remains neutral at this point. 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) 1.6146; (P) 1.6210; (R1) 1.6245; More…

Intraday bias in EUR/AUD remains neutral at this point, and outlook stays bearish with 1.6418 resistance intact. On the downside, break of 1.6173 will resume the decline from 1.6742, as the third leg of the correction from 1.7062. Next target is 61.8% projection of 1.6679 to 1.6211 from 1.6418 at 1.6129.

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) 1.5298; (P) 1.5356; (R1) 1.5401; More….

Outlook is EUR/AUD remains unchanged. The correction from 1.5570 could still extend lower. But again, near term outlook stays bullish with 1.5226 resistance turned support intact. Break of 1.5526 minor resistance will turn bias back to the upside for retesting 1.5770 resistance. However, sustained break of 1.5226 will indicate larger reversal and target 1.4949 support next.

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). However, sustained break of 1.5226 will indicate trend reversal and target 1.3624 again.

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.

Daily Pivots: (S1) 1.5475; (P) 1.5551; (R1) 1.5680; More….

EUR/AUD’s rebound from 1.5346 accelerates higher today and focus is back on 1.5781 resistance. Decisive break there will suggest that corrective fall from 1.6357 has completed earlier than expected. Near term outlook will be turned bullish for retesting 1.6357 high. On the downside, below 1.5556 minor support will turn bias back to the downside for 1.5346 and then 1.5271/5313 cluster support zone.

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). Fall from 1.6357 should be corrective such up trend and would target 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will extend the correction to Break will target 61.8% retracement at 1.4668. Nevertheless, firm break of 1.5781 will suggest that the pull back has already completed. And larger uptrend from 1.3624 might be ready to resume.

Daily Pivots: (S1) 1.5599; (P) 1.5655; (R1) 1.5687; More….

Intraday bias in EUR/AUD remains neutral at this point. Further rise is still mildly in favor. Sustained break of 1.5770 resistance will confirm resumption of medium term rise from 1.3264. In that case, EUR/AUD should target 1.6587 key long term resistance. However, below 1.5633 minor support minor support will dampen this bullish case and turn bias to the downside.

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.

Last week’s development suggests that consolidation fro 1.6353 is extending. Though, with 1.5984 support intact, outlook stays bullish and larger up trend is expected to extend later. As the falling leg from 1.6357 should have completed at 1.6048 already, initial bias is back on the upside this week for 1.6357. Firm break there will resume up trend for 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 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) 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 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.6053; (P) 1.6096; (R1) 1.6119; More….

EUR/AUD’s break of 1.6019 minor support suggests that rebound from 1.5773 is completed. Intraday bias is turned back to the downside for this support and possibly below. As long as 1.5621 support holds, we’ll treat price actions from 1.6189 as a consolidation pattern and expect another rise through 1.6189. On the upside, above 1.6139 will target 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD dropped to as low as 1.6112 last week before forming a temporary low there. Initial bias remains neutral this week first. Current development suggests that corrective recovery from 1.5905 has completed at 1.6432 already. Further fall is expected as long as 1.6310 resistance holds. Break of 1.6112 will target 1.5905 low next. Decisive break there will carry larger bearish implication. However, break of 1.6310 will turn focus back to 1.6432 resistance.

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 1.6058) 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) 1.6213; (P) 1.6284; (R1) 1.6406; More…

EUR/AUD rises to as high as 1.6434 so far today as rebound from 1.5250 is staying in an acceleration phase. Intraday bias stays on the upside for 1.6827 resistance next. On the downside, below 1.6284 minor support will turn intraday bias neutral and bring consolidations first. But outlook will stay bullish as long as 1.5898 support holds, in case of retreat.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise would be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5898 support will indicate that the rebound has completed and bring retest of 1.5250 low.

Daily Pivots: (S1) 1.5035; (P) 1.5141; (R1) 1.5208; More…

EUR/AUD drops to as low as 1.4987 so far today and there is no sign of bottoming yet. Current decline is part for the down trend from 1.9799. Intraday bias stays on the downside for 161.8% projection of 1.6343 to 1.5354 from 1.6223 at 1.4476. On the upside, above 1.5243 minor resistance will turn intraday bias neutral and bring consolidations, before staging another fall.

In the bigger picture, down trend from 1.9799 (2020 high) in in progress for 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733 and below. But we’d tentatively look for bottoming sign above 1.3624 long term support, for an interim rebound. However, break of 1.5354 support turned resistance is now needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.