Daily Pivots: (S1) 1.6499; (P) 1.6546; (R1) 1.6582; More…

Further decline is expected in EUR/AUD with 1.6662 resistance intact. Firm break of 1.6449 support will argue that the pattern from 1.6319 has completed at 1.6844 as a corrective move, and fall from 1.7062 is ready to resume through 1.6319. On the upside, above 1.6662 minor resistance will turn bias back to the upside for 1.6844 resistance 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) 1.6131; (P) 1.6188; (R1) 1.6225; More…

Sideway trading continues in EUR/AUD and intraday bias remains neutral. Further rally is expected as long as 1.6053 support holds. Decisive break of 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302 will resume larger rally from 1.4281 to 1.6389 fibonacci level and then 1.6434 resistance. However, firm break of 1.6053 will indicate rejection by 1.6302 and turn bias back to the downside for 1.5848 support.

In the bigger picture, the strong support from 55 week EMA (now at 1.5404) is raising the chance of bullish trend reversal. Focus is now 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 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.

EUR/AUD’s rise from 1.4281 extended higher last week despite some loss of upside momentum. Initial bias is on the upside this week for 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. On the downside, break of 1.5429 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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.

In the longer term picture, break of 55 month EMA (now at 1.5613) raises the chance of medium term bullish reversal. Focus is back on 1.6434 cluster resistance, 38.2% retracement of 1.9799 (2020 high) to 1.4281 at 1.6389). Sustained break there will confirm and target 61.8% retracement at 1.7691.

Daily Pivots: (S1) 1.5851; (P) 1.5947; (R1) 1.6099; More….

Intraday bias in EUR/AUD remains on the upside at this point. Current rise from 1.5346 is in progress for retesting 1.6357 high. At this point, we’d be cautious on topping around there to bring pull back. On the downside, break of 1.5887 resistance turned support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish in case of retreat.

In the bigger picture, no change in the view that 1.6357 is a medium term top. But the strong rebound ahead of 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313) suggests price actions from 1.6357 are developing into sideway consolidation, rather than a deep correction. The range of 1.5271/6357 is likely set for the consolidation. And we don’t expect a break of the range any time soon. But decisive break of 1.6357 will resume the larger up trend from 1.3624 (2017 low) to 1.6587 (2015 high).

Daily Pivots: (S1) 1.6304; (P) 1.6328; (R1) 1.6358; More…

EUR/AUD’s correction is still in progress and deeper fall could be seen. For now, we’d still expect 1.6247 resistance turned support to contain downside to bring rebound. On the upside, break of 1.6680 resistance will resume larger rally through 1.6786. However, sustained break of 1.6247 will bring deeper fall towards 1.5894 support instead.

In the bigger picture, outlook remains bullish and up trend from 1.1602 (2012 low) is still in progress. Prior 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.

Daily Pivots: (S1) 1.6427; (P) 1.6462; (R1) 1.6506; More..

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.6412 and sustained trading below 1.6439 support will argue that whole rebound from 1.6127 has completed, and turn near term outlook bearish for this support again. Nevertheless, strong rebound from current level, followed by break of 1.6561 minor resistance, will turn bias back to the upside for retesting 1.6742.

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) 1.5354; (P) 1.5397; (R1) 1.5461; More…

Intraday bias in EUR/AUD stays neutral first. On the upside, above 1.5496 will affirm the case of short term bottoming 1.5254, after defending 1.5271 key support. Intraday bias will then be turned back to the upside for 1.5749 resistance and above. On the downside, decisive break of 1.5271 will carry larger bearish implication and bring deeper fall to 61.8% retracement of 1.4281 to 1.5976 at 1.4928.

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 stayed in consolidation from 1.6323 last week and outlook is unchanged. Initial bias remains neutral this week first. with 1.6202 minor support intact, further rally is in favor. On the upside, above 1.6323 will resume the rise from 1.5976 to 1.6432 resistance. However, break of 1.6202 will argue that rebound from 1.5976 has completed. Intraday bias will be turned back to the downside for 1.5894/5905 key support zone again.

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 1.6069) 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) 1.6125; (P) 1.6212; (R1) 1.6269; More…

EUR/AUD’s break of 1.6148 suggests that rebound form 1.5976 has completed and fall from 1.6323 has resumed. Intraday bias is back on the downside for 1.5976 support first. Break will turn focus to 1.5894 key support level. On the upside, above 1.6211 minor resistance will turn intraday bias neutral again.

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 1.6071) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5773; (P) 1.5842; (R1) 1.5960; More…

Intraday bias in EUR/AUD remains neutral for consolidations below 1.5976. Further rally will remain in favor as long as 1.5441 support holds. Break of 1.5976 will resume larger rise from 1.4281 to 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

In the bigger picture, strong support from 55 day and 55 week EMA affirms underlying bullishness. As long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. Decisive break there should confirm medium term bullish trend reversal.

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’s fall from 1.6742 resumed by breaking through 1.6368 support last week. The development revived the case that rise from 1.6127 has completed at 1.6742. Fall from there is the third leg of the corrective pattern from 1.7062. Initial bias is now on the downside this week for 1.6127 support next. On the upside, above 1.6484 resistance will turn intraday bias neutral and bring consolidations.

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 another 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 1.5950) 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) 1.5712; (P) 1.5756; (R1) 1.5817; More….

EUR/AUD’s rally continues and reaches as high as 1.5911 so far today. Break of 1.5886/8 resistance confirms resumption of rally from 1.5271. Further rise should be seen to 61.8% projection of 1.5271 to 1.5886 from 1.5601 at 1.5981 first. Break will target 100% projection at 1.6216, which is close to 1.6189 high. On the downside, below 1.5836 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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.

Daily Pivots: (S1) 1.6248; (P) 1.6296; (R1) 1.6326; More…

Intraday bias in EUR/AUD remains neutral at this point and further decline is in favor. On the downside, break of 1.6144 will target a test on 1.6033. Decisive break there will resume larger down trend from 1.9799. However, break of 1.6374 resistance will extend the consolidation from 1.6033 with another rising leg, and turn bias to the upside for 1.6827.

In the bigger picture, current development suggests that price actions form 1.9799 might be developing into a sideway pattern only. That is, medium term outlook is just neutral, and up trend from 1.1602 (2012 low) could resume at a later stage. On the downside, though, sustained trading below 55 week EMA (now at 1.6459) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.6088; (P) 1.6137; (R1) 1.6215; More…

Intraday bias in EUR/AUD stays on the upside at this point. 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 1.6057 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) 1.5201; (P) 1.5272; (R1) 1.5317; More…

EUR/AUD’s fall continues today and break of 1.5250 low indicates resumption of larger down trend from 1.9799. Intraday bias stays on the downside for 100% projection of 1.6343 to 1.5354 from 1.6223 at 1.5143. Sustained break there will pave the way to 161.8% projection at 1.4476. On the upside, break of 1.5559 support turned resistance is needed to indicate short term bottoming. Otherwise, outlook stays bearish in case of recovery.

In the bigger picture, break of 1.5250 support indicates resumption of whole down trend from 1.9799 (2020 high). Next target is 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. Meanwhile, break of 1.6223 resistance is now needed to indicate medium term bottoming. Otherwise, outlook will remain bearish.

Daily Pivots: (S1) 1.6133; (P) 1.6162; (R1) 1.6213; More…

EUR/AUD’s rebound from 1.6085 extends higher today and broke 1.6256 support turned resistance. Fall from 1.6593 might be completed with three waves down to 1.6085 already. Intraday bias is back on the upside for 1.6448 resistance first. On the downside, break of 1.6085 will target 1.5962 key support instead.

In the bigger picture, EUR/AUD is still struggling in established range of 1.5905/6786. And it’s trying to draw support from 55 week EMA (now at 1.6113) again. For now, larger up trend from 1.1602 (2012 low) is still in favor to continue as long as 1.5962 support holds. Break of 1.6503 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488.

EUR/AUD recovered after dipping to 1.5254 last week and outlook is unchanged. Initial bias stays neutral this week first. While corrective pattern from 1.5704 might extend, downside should be contained by 55 day EMA (now at 1.5274) to bring rebound. On the upside, decisive 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.

In the longer term picture, breach of 55 month EMA (now at 1.5600) raises the chance of medium term bullish reversal. Focus is back on 1.6434 cluster resistance, 38.2% retracement of 1.9799 (2020 high) to 1.4281 at 1.6389). Sustained break there will confirm and target 61.8% retracement at 1.7691.

Daily Pivots: (S1) 1.6266; (P) 1.6365; (R1) 1.6416; More…

Intraday bias in EUR/AUD stays neutral as it’s holding above 1.5219 support. Further rally could be seen and 1.6785 will resume larger up trend to 100% projection of 1.4281 to 1.5976 from 1.5254 at 1.6949. However, considering bearish divergence condition in D MACD, decisive break of 1.6219 will argue that it’s already in correction to whole up trend from 1.4281. Deeper decline would then be seen towards 1.5254/5976 support zone instead.

In the bigger picture, the solid break of 1.6434 resistance 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 of 1.9799 to 1.4281 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) 1.6266; (P) 1.6315; (R1) 1.6352; More…

Intraday bias in EUR/AUD remains neutral for consolidation below 1.6363 temporary top. Downside of retreat should be contained well above 1.6052 support to bring rise resumption. On the upside, break of 1.6363 will turn bias back to the upside for 61.8% projection of 1.5683 to 1.6262 from 1.6052 at 1.6410 first. Break will target 100% projection at 1.6631 next.

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.