Daily Pivots: (S1) 1.5426; (P) 1.5530; (R1) 1.5616; More…

Intraday bias in EUR/AUD remains neutral as corrective pattern from 1.5747 is extending. 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.

Daily Pivots: (S1) 1.5592; (P) 1.5634; (R1) 1.5661; More….

Intraday bias in EUR/AUD remains neutral for consolidation above 1.5578 temporary low. Upside of recovery should be limited 4 hour 55 EMA (now at 1.5685) to bring another fall. Below 1.5578 will target 61.8% retracement of 1.5271 to 1.5888 at 1.5507. Sustained break there will pave the way to retest 1.5271 low. Overall, even in case of stronger rebound, risk will stay on the downside as long as 1.5888 resistance holds.

In the bigger picture, the rebound from 1.5271 was somewhat weaker than expected. EUR/AUD also failed to sustain above 55 day EMA and hints on some underlying bearishness. Though, for now, as long as 1.5271 support holds, medium term rise from m 1.3624 (2017 low) is still mildly in favor to extend through 1.6189 high, to 1.6587 key resistance (2015 high). Nevertheless, firm break of 1.5271 will complete a head and shoulder top pattern (ls: 1.5770, h: 1.6189, rs: 1.5888). That would indicate medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 1.7788; (P) 1.7911; (R1) 1.8089; More…

Outlook in EUR/AUD remains unchanged as correction from 1.9799 might extend. But downside should be contained by 61.8% retracement of 1.6085 to 1.9799 at 1.7504 to bring rebound. On the upside, break of 1.8747 minor resistance will turn bias to the upside for retesting 1.9799 high first.

In the bigger picture, up trend from 1.1602 (2012 low) is in progress and further rally would be seen to 2.1127 (2008 high) and possibly to 161.8% projection of 1.1602 to 1.6597 from 1.3524 at 2.1706. On the downside, for now, touching of 1.6597 resistance turned support (2015 high), is needed to indicate medium term reversal. Otherwise, outlook will stay bullish even in case of deep pull back.

Daily Pivots: (S1) 1.6796; (P) 1.6841; (R1) 1.6907; More…

Intraday bias in EUR/AUD stays neutral at this point. And further rally is in favor with 1.6737 support intact. On the upside, firm break of 1.7062 resistance will resume larger up trend to 1.7377 projection level next. However, firm break of 1.6737 will bring deeper pull back to 1.6601 resistance turned support instead.

In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will stay bullish as long as 1.5846 support holds, even in case of another pull back.

EUR/AUD stayed in tight range above 1.6538 last week and outlook is unchanged. Initial bias remains neutral this week first. Focus stays on whether it could defend 1.6597 key support level. On the upside, break of 1.7194 resistance should confirm short term bottoming. Stronger rise should then be seen to 38.2% retracement of 1.9799 to 1.6538 at 1.7784 next. On the downside, however, break of 1.6538 will indicate resumption of fall from 1.9799. More importantly, sustained trading below 1.6597 key support will carry larger bearish implication and target 1.5962 support next.

In the bigger picture, focus stays on 1.6597 key cluster support, (2015 high and 38.2% retracement of 1.1602 to 1.9799 at 1.6668, 55 week EMA (now at 1.6544). Strong rebound from current level will retain medium term bullishness. Larger up trend from 1.1602 (2012 low) would extend through 1.9799 high. However, sustained break of 1.6597 will suggest bearish reversal and target 61.8% retracement at 1.4733.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress, with 2.1127 (2008 high) as next target. However, sustained break of 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668, will argue that such rally is completed. Outlook will then be turned bearish for 61.8% retracement at 1.4733.

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.

Daily Pivots: (S1) 1.6054; (P) 1.6072; (R1) 1.6096; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5996 continues. While another recovery cannot be ruled out, further decline is expected as long as 1.6211 resistance holds. Break of 1.5996 will resume larger fall to 1.5846 support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6196; (P) 1.6251; (R1) 1.6282; More…

Intraday bias in EUR/AUD remains neutral for the moment. As long as 1.6772 resistance holds, further decline is still expected. On the downside, break of 1.6033 will resume the fall from 1.9799 and target 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.

Daily Pivots: (S1) 1.5738; (P) 1.5789; (R1) 1.5822; More….

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5472 temporary low is in progress. Outlook is unchanged that prior break of 1.5984 support is taken as an early sign of medium term trend reversal. On the downside, break of 1.5742 will target 1.5601 key support. Decisive break there will pave the way to 1.5271/5313 cluster support zone next. In case of another recovery, upside should be limited by 1.5984 support turned resistance to bring fall resumption.

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 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.

Daily Pivots: (S1) 1.6439; (P) 1.6481; (R1) 1.6554; More…

Intraday bias in EUR/AUD remains neutral for consolidation below 1.6786. In case of another fall, downside should be contained above 1.6247 resistance turned support to bring rise resumption. On the upside, break of 1.6786 will extend larger up trend to 161.8% projection of 1.5683 to 1.6448 from 1.5894 at 1.7132.

In the bigger picture, current development suggests that up trend from 1.1602 (2012 low) is resuming. Strong 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.

EUR/AUD stayed in range of 1.6231/6601 last week and outlook is unchanged. Initial bias remains neutral this week first. Further rally is expected with 1.6231 support intact. Firm break of 1.6601 will solidify the case that corrective fall from 1.6785 has completed, and target a retest on this high next.

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 rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, 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’s fall from 1.6742 continued last week despite interim strong rebound. Initial bias stays on the downside this week. This decline is seen as the third leg of the corrective pattern from 1.7062. Further fall should be seen to expected to 1.6127 support, or further to 100% projection of 1.7062 to 1.6127 from 1.6742 at 1.5807. For now, risk will remain on the downside as long as 1.6494 resistance holds, in case of recovery.

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.

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) 1.6207; (P) 1.6239; (R1) 1.6266; More….

Intraday bias in EUR/AUD remains neutral at this point. Also, further rise is still in favor. On the upside, sustained break of 1.6353 will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.6145 support will likely extend the corrective pattern from 1.6353 with another leg back to 1.5984.

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.

EUR/AUD’s correction from 1.6353 extended to as low as 1.6051 last week and drew support from 38.2% retracement of 1.5601 to 1.6353 at 1.6066. But recovery was limited by 4 hour 55 EMA. Initial bias is neutral this week first. On the downside, break of 1.6051 will extend the correction. But downside downside should be contained well above 1.5886 cluster support (61.8% retracement at 1.5888) to bring rise resumption. On the upside, above 1.6175 will suggest that the pull back is completed and turn bias to the upside for retesting 1.6353.

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.

EUR/AUD’s recovery from 1.6033 extended higher last week but upside was limited well below 1.6772 resistance so far. Initial bias remains neutral this week and further decline is in favor. On the downside, break of 1.6033 will resume whole decline from 1.9799 and target next support level at 1.5346. On the upside, though, break of 1.6772 will indicate short term bottoming and turn bias to the upside for 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 week 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 1.5737) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.4995; (P) 1.5070; (R1) 1.5111; More…

Intraday bias in EUR/AUD remains neutral at this point and outlook is unchanged. The larger down trend is still expected to continue as long as 1.5354 support turned resistance holds. 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) 1.5611; (P) 1.5638; (R1) 1.5673; More….

EUR/AUD is still bounded in range of 1.5578/5725 and intraday bias stays neutral for the moment. On the downside, below 1.5578 will resume the fall from 1.5888 to 61.8% retracement of 1.5271 to 1.5888 at 1.5507. Firm break there will pave the way to retest 1.5271 low. On the upside, above 1.5725 will extend the rebound form 1.5578 to retest 1.5888 high.

In the bigger picture, the rebound from 1.5271 was somewhat weaker than expected. EUR/AUD also failed to sustain above 55 day EMA and hints on some underlying bearishness. Though, for now, as long as 1.5271 support holds, medium term rise from 1.3624 (2017 low) is still mildly in favor to extend through 1.6189 high, to 1.6587 key resistance (2015 high). Nevertheless, firm break of 1.5271 will complete a head and shoulder top pattern (ls: 1.5770, h: 1.6189, rs: 1.5888). That would indicate medium term reversal and turn outlook bearish.

Daily Pivots: (S1) 1.6269; (P) 1.6312; (R1) 1.6343; More…

A temporary top is formed at 1.6356 in EUR/AUD and intraday bias is turned neutral first. Downside of retreat should be contained above 1.6106 support to bring another rise. On the upside, above 1.6356 will target 1.6432 resistance first. Break there will pave the way to retest 1.6785 high.

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 dipped to 1.6247 last week but quickly rebounded after drawing support from 1.6255. Outlook is unchanged and initial bias stays neutral this week first. Further rally remains in favor. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. Above 1.6552 will target a retest on 1.6785 high next. Nevertheless, on the downside, firm break of 1.6255 will dampen this view and turn bias to the downside for 1.5846 support.

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 rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, 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.

Outlook in EUR/AUD remained unchanged as it stayed in sideway consolidation from 1.6033 continued last week. Initial bias stays neutral this week first. Further decline is expected with 1.6772 resistance intact. On the downside, break of 1.6033 will resume the fall from 1.9799 and target 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 1.5736) will further affirm this case and target 1.1602/3624 support zone.