Daily Pivots: (S1) 1.6395; (P) 1.6430; (R1) 1.6462; More…

EUR/AUD’s break of 1.6391 support invalidated the original view. Corrective pattern from 1.6800 is still in progress and extending. Intraday bias is back on the downside for 61.8% retracement of 1.5963 to 1.6800 at 1.6283. On the upside, though, break of 1.6518 resistance will bring stronger rebound back to 1.6631.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6416; (P) 1.6468; (R1) 1.6498; More…

Intraday bias in EUR/AUD stays neutral for the moment. On the upside, break of 1.6631 resistance will reaffirm the case that consolidation from 1.6800 has completed at 1.6391. Retest of 1.6800 high should be seen next and firm break there will resume the rally from 1.5963. However, firm break of 1.6391 will invalidate this view and bring deeper fall.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6445; (P) 1.6493; (R1) 1.6538; More…

Intraday bias in EUR/AUD stays neutral at this point. The favored case remains that consolidation pattern from 1.6800 has completed at 1.6391 already. On the upside above 1.6631 will bring retest of 1.6800 first. Firm break there will resume the rally from 1.5963 to 61.8% projection of 1.5693 to 1.6800 from 1.6391 at 1.6908. However, firm break of 1.6391 will invalidate this view and bring deeper fall.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6484; (P) 1.6531; (R1) 1.6562; More…

Intraday bias in EUR/AUD remains neutral for the moment. The favored case remains that consolidation pattern from 1.6800 has completed at 1.6391 already. On the upside above 1.6631 will bring retest of 1.6800 first. Firm break there will resume the rally from 1.5963 to 61.8% projection of 1.5693 to 1.6800 from 1.6391 at 1.6908.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

EUR/AUD drew support from 55 W EMA last week and rebounded after dipping to 1.6391. But it then lose momentum after hitting 1.6631. Initial bias is turned neutral this week first. Current development suggests that corrective pattern from 1.6800 has completed at 1.6391 already. On the upside above 1.6631 will bring retest of 1.6800 first. Firm break there will resume the rally from 1.5963 to 61.8% projection of 1.5693 to 1.6800 from 1.6391 at 1.6908.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

In the longer term picture, rise from 1.4281 is seen as the second leg of the pattern from 1.9799 (2020 high), which is part of the pattern from 2.1127 (2008 high). As long as 55 M EMA (now at 1.6090) 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) 1.6511; (P) 1.6573; (R1) 1.6625; More…

Intraday bias in EUR/AUD remains mildly on the upside for the moment. Corrective pattern from 16800 could have completed with three waves to 1.6391 already Further rally would be seen to retest 1.6800 first. Decisive break there will resume whole rally from 1.5963 to 61.8% projection of 1.5693 to 1.6800 from 1.6391 at 1.6908. For now, risk will stay on the upside as long as 1.6391 support holds, in case of retreat.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6455; (P) 1.6512; (R1) 1.6593; More…

EUR/AUD’s strong rebound argues that price actions from 1.6800 could have completed as a three wave corrective pattern to 1.6391. Intraday bias is back on the upside for retesting 1.6800 first. Decisive break there will resume whole rally from 1.5963 to 61.8% projection of 1.5693 to 1.6800 from 1.6391 at 1.6908. For now, risk will stay on the upside as long as 1.6391 support holds, in case of retreat.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6412; (P) 1.6442; (R1) 1.6492; More…

EUR/AUD recovered after dipping to 1.6391 and intraday bias is turned neutral first. Risk will stay on the downside for the moment. Below 1.6391 will extend the corrective fall from 1.6800 to 61.8% retracement of 1.5963 to 1.6800 at 1.6283. Nevertheless, firm break of 1.6497 minor resistance will dampen this bearish case and turn bias to the upside for rebound.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6381; (P) 1.6443; (R1) 1.6480; More…

EUR/AUD’s fall from 1.6789 is in progress and intraday bias stays on the downside. A double top reversal pattern (1.6800, 1.6789) could be formed. Deeper fall should be seen to 61.8% retracement of 1.5963 to 1.6800 at 1.6283. On the upside, however, break of 1.6497 minor resistance will dampen this bearish case and turn bias neutral first.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6428; (P) 1.6493; (R1) 1.6531; More…

Intraday bias in EUR/AUD remains on the downside for the moment. A double top reversal pattern (1.6800, 1.6789) could be formed. Deeper fall should be seen to 61.8% retracement of 1.5963 to 1.6800 at 1.6283. On the upside, however, break of 1.6593 minor resistance will dampen this bearish case and turn bias back to the upside for retesting 1.6800 instead.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

EUR/AUD’s late break of 1.6481 cluster support (38.2% retracement of 1.5963 to 1.6800 at 1.6480) suggests that a double top reversal pattern (1.6800, 1.6789) might be completed. Initial bias is back on the downside this week for 61.8% retracement at 1.6283. On the upside, break of 1.6593 minor resistance will turn bias back to the upside for retesting 1.6800 instead.

In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

In the longer term picture, rise from 1.4281 is seen as the second leg of the pattern from 1.9799 (2020 high), which is part of the pattern from 2.1127 (2008 high). As long as 55 M EMA (now at 1.6090) 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) 1.6487; (P) 1.6542; (R1) 1.6578; More…

Intraday bias in EUR/AUD stays neutral for the moment, as consolidation from 1.6800 is still extending. Strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6521; (P) 1.6574; (R1) 1.6605; More…

EUR/AUD’s consolidation from 1.6800 is still in progress and intraday bias stays neutral. Strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6559; (P) 1.6616; (R1) 1.6649; More…

Intraday bias in EUR/AUD remains neutral as consolidations continue below 1.6800. Strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6536; (P) 1.6664; (R1) 1.6738; More…

EUR/AUD’s consolidation from 1.6800 is extending with another falling leg and intraday bias remains neutral. Strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6631; (P) 1.6690; (R1) 1.6738; More…

EUR/AUD is still bounded in range trading below 1.6800 and intraday bias remains neutral. In case of another dip, strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6690; (P) 1.6735; (R1) 1.6782; More…

EUR/AUD failed to break through 1.6800 resistance and retreated. Intraday bias remains neutral for the moment. In case of another dip, strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.6679; (P) 1.6715; (R1) 1.6756; More…

Range trading continues in EUR/AUD below 1.6800 and intraday bias remains neutral. In case of another dip, strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.

Daily Pivots: (S1) 1.0387; (P) 1.0415; (R1) 1.0449; More…

Intraday bias in EUR/USD remains neutral for the moment. On the downside, break of 1.0371 support will indicate rejection by 38.2% retracement of 1.1213 to 1.0176 at 1.0572 and retain near term bearishness. Retest of 1.0176 low should be seen next. On the upside, though, decisive break of 1.0572 will raise the chance of bullish reversal, and target 61.8% retracement at 1.0817.

In the bigger picture, outlook is mixed as fall from 1.1274 (2023 high) could either be the second leg of the corrective pattern from 0.9534 (2022 low), or another down leg of the long term down trend. Strong support from 61.8 retracement of 0.9534 to 1.1274 at 1.0199 will favor the former case, and sustained break of 55 W EMA (now at 1.0722) will argue that the third leg might have started. However, sustained trading below 1.0199 will favor the latter case and bring retest of 0.9534 low.

Daily Pivots: (S1) 1.6656; (P) 1.6684; (R1) 1.6711; More…

Intraday bias in EUR/AUD remains neutral as consolidation continues below 1.6800. In case of another dip, strong support is expected from 38.2% retracement of 1.5963 to 1.6800 at 1.6480 to contain downside. On the upside, firm break of 1.6800 will resume the rally from 1.5963. However, sustained break of 1.6480 will bring deeper correction 61.8% retracement at 1.6283 instead.

In the bigger picture, EUR/AUD is holding on to 1.5996 key support (2024 low) despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.