Daily Pivots: (S1) 1.5961; (P) 1.6053; (R1) 1.6177; More…

EUR/AUD’s break of 1.6101 resistance suggests that corrective fall from 1.6785 has completed with three waves down to 1.5846. That came after hitting 100% projection of 1.6785 to 1.6134 from 1.6513 at 1.5862. Intraday bias is back on the upside for 1.6513 resistance next. For now, risk will stay on the upside as long as 1.5846 holds, in case of retreat.

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) 1.6153; (P) 1.6184; (R1) 1.6210; More…

Intraday bias in EUR/AUD is back on the downside with breach of 1.6148 temporary low. Current fall from 1.6844 should 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) 1.6494; (P) 1.6537; (R1) 1.6610; More…

Intraday bias in EUR/AUD remains neutral for the moment. t. On the upside, decisive break of 1.6671 will revive the case that whole correction from 1.7062 has completed with three waves down to 1.6127. Further rally should then be seen to 1.6844 resistance for confirmation. Nevertheless, break of 1.6438 will bring deeper fall back to 1.6127 support instead.

In the bigger picture, fall from 1.7062 medium term top is seen as 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) 1.6551; (P) 1.6616; (R1) 1.6672; More…

Intraday bias in EUR/AUD is turned neutral again with current retreat. But further rally will remain mildly in favor as long as 1.6368 support holds. Corrective fall from 1.6742 could have completed with three waves down to 1.6368. Above 1.6678 will target a retest on 1.6742 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). 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.

EUR/AUD stayed in corrective trading last week, rebounding to 1.5690, followed by steep decline to 1.5425. Initial bias is neutral this week first. For now, in case of another rise, we’d expect strong resistance below 1.5773 support turned resistance to bring fall resumption. Below 1.5425 will bring retest of 1.5271 low first. Break will resume the fall from 1.6189 and target 1.5153 key support next.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, firm break of 1.5773 support turned resistance is needed to indicate completion of the fall from 1.6189. Otherwise, further decline is expected in medium term, even in case of strong rebound.

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) 1.6003; (P) 1.6101; (R1) 1.6159; More…

Intraday bias in EUR/AUD is turned neutral with current retreat. Further rally will remain in favor as long as 1.5776 support holds. Above 1.6223 will resume whole rise from 1.5354 to 100% projection of 1.5354 to 1.6168 from 1.5559 at 1.6373 next. However, break of 1.5776 will turn bias back to the downside for 1.5559 support instead.

In the bigger picture, 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) 1.6554; (P) 1.6739; (R1) 1.6865; More…

Intraday bias in EUR/AUD remains neutral with focus on 1.6538. Decisive break there will resume the fall from 1.9799. Sustained trading below 1.6597 key support will carry larger bearish implication and target 1.5962 support next. On the upside, break of 0.7194 resistance should confirm short term bottoming at 1.6538. Intraday bias will be turned back to the upside for 38.2% retracement of 1.9799 to 1.6538 at 1.7748 next.

In the bigger picture, while the pull back from 1.9799 is deep, there is no clear sign of trend reversal yet. EUR/AUD is still holding on to 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668. Larger rise from 1.1602 (2012 low) is in progress and would resume at a later stage. However, sustained break of 1.6597 suggest bearish reversal. Deeper fall could be seen to 61.8% retracement at 1.4733.

Daily Pivots: (S1) 1.6450; (P) 1.6492; (R1) 1.6518; More…

Intraday bias in EUR/AUD is turned neutral first with current recovery. 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) 1.6398; (P) 1.6458; (R1) 1.6556; More…

Intraday bias in EUR/AUD is turned neutral first as it recovered after hitting 100% projection of 1.6742 to 1.6439 from 1.6677 at 1.6374. On the downside, below 1.6368 will resume the fall from 1.6742 towards 1.6127 low. Nevertheless, sustained trading above 55 D EMA (now at 1.6519) will turn bias back to the upside for stronger rebound.

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). The correction is still in progress with fall from 1.6742 as the third leg. Strong support is expected around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

Despite edging higher to 1.6122, EUR/AUD failed to sustain gain and retreated. Initial bias remains neutral this week first. Price actions from 1.5721 so far suggests it’s a correction only. That is, fall from 1.6765 isn’t over yet. On the downside, break of 1.5721 low will resume the decline from 1.6765 and target 1.5346 support. On the upside, above 1.6122 will resume the corrective rise from 1.5721.

In the bigger picture, as long as 1.5346 support holds, outlook will remain bullish. Uptrend 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) 1.5657; (P) 1.5702; (R1) 1.5771; More….

Focus is back on 1.5773 support turned resistance in EUR/AUD, with today’s rise. Sustained break of 1.5773 will indicate that whole decline from 1.6189 has completed with three waves down to 1.5271 already. And retest of 1.6189 should be seen next. On the downside, break of 1.5617 minor support will turn bias to the downside for 1.5425. Break there will confirm completion of rebound from 1.5271 and target this low again.

In the bigger picture, focus is back on 1.5773 support turned resistance with the current strong rebound. Firm break there will argue that medium term rise from 1.3624 (2017 low) is not completed yet. Further break of 1.6189 will target 1.6587 key resistance (2015 high). Though, rejection by 1.5773 will revive the case of bearish trend reversal and target 61.8% retracement of 1.3624 to 1.6189 at 1.4604.

Daily Pivots: (S1) 1.5827; (P) 1.5871; (R1) 1.5903; More….

With a temporary low in place at 1.5837, intraday bias in EUR/AUD is turned neutral first. No change in the view that price actions from 1.6189 are forming a corrective pattern. Below 1.5837 will target 1.5773 and below. But we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could 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.

Daily Pivots: (S1) 1.7057; (P) 1.7103; (R1) 1.7189; More…

EUR/AUD is staying in consolidation form 1.7003 temporary low. Intraday bias remains neutral first. As long as 1.8124 resistance holds, further decline could still be seen. Break of 1.7003 will extend the fall from 1.9799 to 1.6085/6593 support zone. On the upside, though, break of 1.8124 resistance will argue that such decline has completed and turn bias back to the upside.

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.

EUR/AUD rose further to 1.5277 last week but retreated since then. Initial bias is neutral this week first. On the downside, break of 1.4982 support will argue that rebound from 1.4318 has completed as a three wave corrective move. That came after missing 1.5354 support turned resistance and 100% projection of 1.4318 to 1.5053 from 1.4597 at 1.5332. Intraday bias will be back on the downside for 1.4597 support first. On the upside, however, firm break of 1.5332/54 will argue that the larger trend is reversing. Next target is 161.8% projection at 1.5786.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend form 1.9799 (2020 high) is still expected to continue. On resumption, next target is 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). However, firm break of 1.5354 will indicate medium term bottoming and bring stronger rally back to 1.6434 key resistance.

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) 1.6337; (P) 1.6418; (R1) 1.6482; More…

EUR/AUD is staying in range below 1.6552 and intraday bias remains neutral first. With 1.6247 support intact, further rally is expected. 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 1.6247 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.

Daily Pivots: (S1) 1.5755; (P) 1.5804; (R1) 1.5868; More…

Intraday bias in EUR/AUD remains neutral first. On the downside, break of 1.5559 will resume the fall from 1.6168 to retest 1.5250/5354 support zone. On the upside, however, break of 1.5898 will argue that pull back form 1.6168 has completed. Intraday bias will be back to the upside for 1.6168 resistance.

In the bigger picture, 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) 1.6205; (P) 1.6280; (R1) 1.6415; More….

EUR/AUD’s strong rebound from 1.6145 revived the bullish case and turn focus back to 1.6353 resistance. Decisive break there will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.6145 support will turn near term outlook neutral again.

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.

Daily Pivots: (S1) 1.5374; (P) 1.5463; (R1) 1.5570; More…

Intraday bias in EUR/AUD remains neutral at this point. On the upside, above 1.5650 will revive that case that correction from 1.5976 has completed at 1.5254. Intraday bias will be back on the upside for 1.5749 resistance first. On the downside, firm break of 1.5254/71 will carry larger bearish implication and resume the fall from 1.5976.

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’s rise from 1.5559 accelerated to as high as 1.6223 last week. Break of 1.6168 resistance confirmed resumption of whole rise from 1.5354. Initial bias stays on the upside this week for 100% projection of 1.5354 to 1.6168 from 1.5559 at 1.6373 next. On the downside, below 1.6032 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, 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.

In the longer term picture, fall from 1.9799 (2020 high) is seen as a long term down trend. Further decline will remain in favor as long as 38.2% retracement of 1.9799 to 1.5250 at 1.6988 holds. Break of 1.5250 will target 61.8 retracement of 1.1602 (2012 low) to 1.9799 at 1.4733

Daily Pivots: (S1) 1.5564; (P) 1.5613; (R1) 1.5670; More…

Intraday bias in EUR/AUD remains on the upside at this point. Consolidation pattern from 1.5250 is in it’s third leg and should target 1.5689 resistance first. Break there will target 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, though, break of 1.5526 will turn bias back to the downside for 1.5355 support and below.

In the bigger picture, price actions from 1.9799 are developing into a deep correction, to long term up trend from 1.1602 (2012 low). Deeper fall would be seen to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. Medium term outlook will remain bearish as long as 1.6033 support turned resistance holds, even in case of strong rebound.