Daily Pivots: (S1) 1.6105; (P) 1.6147; (R1) 1.6216; More…

EUR/AUD’s recovery from 1.6025 is still in progress and focus is back on 1.6259 minor resistance. Break will confirm that corrective pull back from 1.6448 has completed. And further rise should be seen back to retest 1.6448 high. On the downside, break of 1.6025 will extend the fall from 1.648 to 1.5683 support and below.

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 and turn outlook bearish.

Daily Pivots: (S1) 1.6008; (P) 1.6184; (R1) 1.6373; More…

Intraday bias in EUR/AUD remains on the downside as long as 1.6071 minor resistance intact. Deeper fall should be seen to 1.5894/5906 key support zone. On the upside, above 1.6071 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 1.6314 resistance holds, in case of recovery.

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 1.6081) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5420; (P) 1.5516; (R1) 1.5573; More…

EUR/AUD’s fall from 1.5976 resumed by breaking through 1.5414. Intraday bias is back on the downside for 38.2% retracement of 1.4281 to 1.5976 at 1.5329. Strong support could be seen there to bring rebound. Break of 1.5614 resistance will indicate that the correction has completed, and bring retest of 1.5976 high. However, sustained trading below 1.5329 will carry larger bearish implication and target 61.8% retracement 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.

Daily Pivots: (S1) 1.6021; (P) 1.6056; (R1) 1.6093; More…

Intraday bias in EUR/AUD stays neutral for the moment. Risk will stay on the downside as long as 1.6513 resistance holds. Below 1.5976 will resume the fall from 1.6785 to 100% projection of 1.6785 to 1.6134 from 1.6513 at 1.5862.

In the bigger picture, a medium term top is possibly in place at 1.6785 already, on bearish divergence condition in D MACD. Fall from there is seen as correcting 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. Strong support could be seen there to complete the first leg of the corrective pattern.

Daily Pivots: (S1) 1.6117; (P) 1.6150; (R1) 1.6182; More…

EUR/AUD’s rebound from 1.5905 short term bottom is still in progress. Intraday bias stays on the upside for 1.6308 support turned resistance first. Firm break there should confirm completion of whole fall from 1.6789 and target this resistance again. On the downside, below 1.6128 will turn bias to the downside for another test on 1.5894 key support level.

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 1.6008) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5039; (P) 1.5141; (R1) 1.5317; More…

Intraday bias EUR/AUD remains neutral at this point. As long as 1.5354 support turned resistance holds, further decline is still expected. On the downside, break of 1.4920 minor support should resume larger down trend to 161.8% projection of 1.6343 to 1.5354 from 1.6223 at 1.4476. However, sustained break of 1.5354 will bring stronger rise back towards 1.6223 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.

Daily Pivots: (S1) 1.5609; (P) 1.5640; (R1) 1.5685; More…

Intraday bias in EUR/AUD remains mildly on the downside. As noted before, rebound from 1.5354 should have completed with three waves up to 1.6168. Deeper fall would be seen to 1.5250/5354 support zone. On the upside, break of 1.5898 is needed to indicate short term bottoming. Otherwise, further decline is in favor 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) 1.6211; (P) 1.6263; (R1) 1.6352; More…

EUR/AUD’s break of 1.6294 resistance suggests resumption of rise from 1.5962. Intraday bias is back on the upside for 1.6432 resistance first. Break there will pave the way to retest 1.6785 high. On the downside, break of 1.6106 support is now needed to confirm completion of the current rally. Otherwise, near term outlook will remain bullish in case of retreat.

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 1.6082) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

EUR/AUD rebounded notably last week but remained inside range of 1.6033/6772. Outlook is unchanged and initial bias stays neutral this week first. Further decline is in favor as long as 1.6772 resistance holds. On the downside, firm break of 1.6033 will resume the decline 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.

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 1.5760) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6005; (P) 1.6034; (R1) 1.6092; More…

EUR/AUD’s break of 1.6071 minor resistance should confirm short term bottoming at 1.5962, ahead of 1.5894/5906 key support zone. Intraday bias is turned back to the upside. Further rise is expected to 1.6314 resistance. Decisive break there will re-affirm medium term bullishness. On the downside, break of 1.5692 will turn focus back to 1.5894/5906. Decisive break there will carry larger bearish implications.

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 1.6079) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.6233; (P) 1.6290; (R1) 1.6396; More…

EUR/AUD rebounded strongly ahead of 1.6033 support as consolidation extends. But upside is limited well below 1.6772 resistance. Intraday bias remains neutral and further decline is in favor. On the downside, firm break of 1.6033 will resume the decline 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.

EUR/AUD’s correction from 1.6353 last week resumed by taking out 1.6051. Initial bias is on the downside this week for 100% projection of 1.6353 to 1.6051 from 1.6252 at 1.5950. But 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, above 1.6252 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.

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) 1.6444; (P) 1.6518; (R1) 1.6562; More…

EUR/AUD is still extending the sideway pattern from 1.6452 and intraday bias remains neutral. Deeper decline is expected with 1.6793 resistance intact. On the downside, break of 1.6452 will resume the fall from 1.7062, as a larger scale correction, to 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, 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 should be seen there to bring rebound, at least on first attempt.

Daily Pivots: (S1) 1.6160; (P) 1.6201; (R1) 1.6263; More…

EUR/AUD recovered again after brief dip to 1.6137 and intraday bias is turned neutral again. Below 1.6137 will target 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106. Meanwhile, considering bullish convergence condition in 4H MACD, firm break of 1.6265 resistance should indicate short term bottoming, and turn bias back to the upside for 1.6478 resistance instead.

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.

Daily Pivots: (S1) 1.5701; (P) 1.5741; (R1) 1.5781; More….

EUR/AUD recovered after drawing support from 1.5696. But it’s staying below 1.5886 temporary top. Intraday bias remains neutral first. Further rise is is expected with 1.5696 minor support intact. On the upside, break of 1.5886 will resume the rebound from 1.5271 and target 1.6189 high. However, as the rebound from 1.5271 is not clearly impulsive yet and momentum isn’t too convincing. Break of 1.5695 minor support could be an early sign of near term topping. In such case, bias will be turned back to the downside for 1.5425 support.

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).

EUR/AUD surged to as high as 1.6262 last week as rise from 1.5683 extended. The decisive break of 1.6122 resistance confirmed that correction from 1.6765 has completed with three waves down to 1.5683. While upside momentum as weaken mildly, initial bias stays on the upside this week. Further rally should be seen back 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.

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. Firm break there will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. This will remain the favored case as long as 1.5346 remains intact.

Daily Pivots: (S1) 1.5750; (P) 1.5785; (R1) 1.5832; More…

EUR/AUD is still bounded in consolidation from 1.5976 and intraday bias stays neutral. 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.

Daily Pivots: (S1) 1.6512; (P) 1.6589; (R1) 1.6700; More…

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.6449 will target 1.6319 support first. Firm break there will resume the whole decline from 1.7062. However, above 1.6843 will resume the rebound from 1.6319 towards 1.7062 resistance instead.

In the bigger picture, current development suggests that 1.7062 is already a medium term top. Fall from there is seen as a correction to the up trend from 1.4281 (2022 low). While deeper decline might be seen, strong support should emerge from 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to contain downside. However, sustained break of 1.6000 will raise the chance of bearish tend reversal.

Daily Pivots: (S1) 1.4641; (P) 1.4673; (R1) 1.4721; More…

Further decline is mildly in favor in EUR/AUD as long as 1.4754 minor resistance holds. Break of 38.2% retracement of 1.3624 to 1.5226 at 1.4614 will pave the way to 61.8% retracement at 1.4236 and possibly below. Meanwhile, break of 1.4754 will indicate that the cross could have defended 1.4669 support. In that case, intraday bias will be turned back to the upside for retesting 1.5226 high.

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.

Daily Pivots: (S1) 1.5710; (P) 1.5742; (R1) 1.5772; More….

EUR/AUD is still bounded in range of 1.5696/5886 and intraday bias remains neutral for the moment. 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).