Daily Pivots: (S1) 1.5973; (P) 1.6002; (R1) 1.6041; More….

Intraday bias in EUR/AUD stays neutral with focus on 1.6059 resistance now. Break there will indicate completion of the pull back from 1.6189. And in that case, larger rise from 1.3624 is likely still in progress. Intraday bias will be turned back to the upside for 1.6189 first. However, on the downside, below 1.5847 minor support will suggest that rebound form 1.5773 has completed and fall from 1.6189 is resuming. Intraday bias would be turned back to the downside for 1.5773 and then 1.5621 key support level next.

In the bigger picture, the case for medium term reversal is building up in EUR/AUD. Bearish divergence condition in daily MACD indicates further loss of upside momentum ahead of 1.6587 key resistance (2015 high). Break of 1.5621 should confirm medium term topping and bring deeper fall back to 1.5153 and possibly below. Meanwhile, even in case of up trend resumption, we’d be cautious on strong resistance from 1.6587 to limit upside and bring reversal.

Daily Pivots: (S1) 1.6269; (P) 1.6337; (R1) 1.6375; More…

EUR/AUD is still bounded in range below 1.6444 and intraday bias stays neutral. On the upside, decisive break of 1.6434 resistance will carry larger bullish implications. However, considering bearish divergence condition in 4H MACD, firm break of 1.6216 should confirm short term topping, after rejection by 1.6389/6434 cluster resistance zone. Intraday bias will be back on the downside in this case, to 1.6033 support and possibly below.

In the bigger picture, focus stays on 1.6389/6434 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.

Daily Pivots: (S1) 1.5494; (P) 1.5553; (R1) 1.5614; More…

Intraday bias in EUR/AUD remains neutral first. Further fall is expected as long as 1.5743 resistance holds. On the downside, break of 1.5354 will resume whole fall from 1.6434 to retest 1.5250 low. Nevertheless, break of 1.5743 will turn near term outlook bullish for 1.5907 resistance instead.

In the bigger picture, the down trend from 1.9799 (2020 high) is in progress. Firm break of 1.5250 low will confirm resumption and target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. Sustained break there could bring more downside acceleration to 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623. In any case, break of 1.6434 resistance is needed to signal medium term bottoming, or outlook will stay bearish.

Daily Pivots: (S1) 1.5509; (P) 1.5564; (R1) 1.5627; More…

Intraday bias in EUR/AUD stays neutral and outlook is unchanged. While further fall cannot be ruled out, strong support could be seen from 38.2% retracement of 1.4281 to 1.5976 at 1.5329 to complete the correction from 1.5976. Firm break of 1.5614 minor resistance will turn bias back to the upside for retesting 1.5976. 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) 1.6297; (P) 1.6331; (R1) 1.6382; More…

Intraday bias in EUR/AUD remains neutral and risk stays on the upside as long as 1.6127 support holds. Above 1.6398 will resume the rebound to 1.6478 resistance. Firm break there will argue that whole correction from 1.7062 has completed, and target 1.6844 resistance for confirmation. Nevertheless, break of 1.6127 will resume the corrective fall to 1.6000 fibonacci level.

In the bigger picture, fall from 1.7062 medium term top is seen as correction to the up trend from 1.4281 (2022 low). Strong support should be seen around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 bring rebound. Break of 1.6844 will argue that this up trend is ready to resume through 1.7062 high.

Daily Pivots: (S1) 1.5600; (P) 1.5659; (R1) 1.5700; More…

Intraday bias in EUR/AUD Remains on the downside for retesting 1.5591 support. Firm break there will resume larger down trend and target 61.8% projection of 1.6409 to 1.5591 from 1.5945 at 1.5439. On the upside, above 1.5762 minor resistance will delay the bearish case, and extend the consolidation from 1.5591 with another rise.

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 1.6827 resistance holds, even in case of strong rebound.

EUR/AUD stayed in range of 1.3872/4309 last week and outlook is unchanged. We continue to favor the case that larger fall from 1.6587 is completed at 1.3624, after defending 1.3671 key support. And the trend is reversing. Hence, another rise is anticipated after the consolidation from 1.4309 completes.

Initial bias in EUR/AUD stays neutral this week first. On the upside, break of 1.4215 minor resistance will turn bias to the upside for 1.4309. Break there will finally resume whole rise from 1.3624 and target 1.4721 key resistance next. On the downside, however, sustained break of 1.3872 will dampen our view of trend reversal. In that case, intraday bias will be turned back to the downside for retesting 1.3624 low, with prospect of extending the larger down trend.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after testing 1.3671 key support. Break of 1.4721 cluster resistance (38.2% retracement of 1.6587 to 1.3624 at 1.4756) should confirm this case and target 61.8% retracement at 1.5455 and above. Overall, we’d expect the up trend from 1.1602 to resume later. However, sustained break of 1.3671 will invalidate our bullish view and would turn extend the fall from 1.6587 towards 1.1602 long term bottom.

In the longer term picture, the rise from 1.1602 long term bottom 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 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.5662; (P) 1.5708; (R1) 1.5736; More…

Intraday bias in EUR/AUD remains on the downside for 1.5559 support. Break there should indicate that corrective rise from 1.5354 has completed in form of a three wave pattern. Further decline would then be seen back to 1.5250/5354 support zone. On the upside, above 1.5837 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 1.5250 low are seen as a corrective pattern. Further extension could be seen and another rise cannot be ruled out. But 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) 1.6376; (P) 1.6423; (R1) 1.6472; More…

EUR/AUD’s consolidation from 1.6786 is still in progress and intraday bias remains neutral. In case of another fall, downside should be contained by 1.6247 resistance turned support to bring rise resumption. On the upside, firm break of 1.6786 will resume larger up trend to 1.7488 projection level.

In the bigger picture, outlook remains bullish as 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.

Daily Pivots: (S1) 1.5878; (P) 1.5958; (R1) 1.6025; More….

Intraday bias in EUR/AUD remains neutral for consolidation above 1.5774 temporary low. Further decline is expected with 1.6154 resistance intact. On the downside, break of 1.5774 will resume the fall from 1.6765 and target 1.5346 key support. However, break of 1.6154 will turn intraday bias back to the upside for retesting 1.6765 instead.

In the bigger picture, the failure to sustain above 1.6587 key resistance (2015 high) argues that up trend from 1.1602 (2012 low) is not ready to resume yet. But still, as long as 1.5346 support holds, outlook will remain bullish. 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.

Daily Pivots: (S1) 1.6263; (P) 1.6305; (R1) 1.6386; More…

No change in EUR/AUD’s outlook as consolidation from 1.0633 is still extending. Intraday bias remains neutral first. Further decline is expected as long as 1.6722 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.

Daily Pivots: (S1) 1.5776; (P) 1.5829; (R1) 1.5865; More…

Intraday bias in EUR/AUD stays neutral as consolidation form 1.5976 is extending. 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) 1.5898; (P) 1.5970; (R1) 1.6097; More…

Intraday bias in EUR/AUD stays on the upside at this point. Rise from 1.4281 is resuming and should target 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302. On the downside, below 1.5882 minor support will turn intraday bias neutral and bring consolidations first, before staging another rise.

In the bigger picture, the strong support from 55 week EMA (now at 1.5396) is raising the chance of bullish trend reversal. On break of 1.5976, focus will be 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 form 1.9799 (2020 high) has completed. However, rejection by this cluster resistance will make medium term outlook neutral at best.

Daily Pivots: (S1) 1.6237; (P) 1.6262; (R1) 1.6291; More…

Intraday bias in EUR/AUD stays neutral for consolidation below 1.6323. With 1.6202 minor support intact, further rise is mildly in favor. On the upside, above 1.6323 will target 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.

Daily Pivots: (S1) 1.5473; (P) 1.5572; (R1) 1.5677; More…

Intraday bias in EUR/AUD remains neutral with consolidation from 1.5685 in progress. Deeper retreat cannot be ruled out but downside should be contained by 1.5156 support. On the upside, break of 1.5685 will resume the rally from 1.4281 to 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823.

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.

Daily Pivots: (S1) 1.5206; (P) 1.5258; (R1) 1.5286; More….

EUR/AUD’s decline from 1.5770 extends to as low as 1.5153 so far. The break of 1.5226 resistance turned support is seen as a sign of larger reversal. That is, rise from 1.3624 could be completed at 1.5770 on bearish divergence condition in daily MACD. Intraday bias is now on the downside for 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950). On the upside, above 1.5311 minor resistance will turn intraday bias neutral and bring consolidations first.

In the bigger picture, current development argues that the corrective pattern from 1.6587 medium term top (2015 high) is still in progress. And fall from 1.5770 could be the another leg. Sustained trading below 55 week EMA (now at 1.4950) will likely bring retest of 1.3624 support. But overall, there is still prospect of another medium term rally as long as 61.8% retracement of 1.1602 to 1.6587 at 1.3506 holds.

Daily Pivots: (S1) 1.5503; (P) 1.5570; (R1) 1.5624; More….

Breach of 1.5519 low suggests that fall from 1.6357 is resuming. Intraday bias stays on the downside for 1.5271/5313 cluster support zone next. On the upside, above 1.5633 minor resistance will delay the bearish case and extend the consolidation from 1.5519 with another rise. But upside should be limited by 38.2% retracement of 1.6357 to 1.5519 at 1.5839 to bring fall resumption eventually.

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 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.

Daily Pivots: (S1) 1.5355; (P) 1.5393; (R1) 1.5432; More…

Outlook in EUR/AUD is unchanged and intraday bias remains neutral first. The cross is staying inside near term falling channel and outlook remains bearish too. On the downside, break of 1.5250 low will resume larger down trend from 1.9799, for 1.4733 fibonacci level. On the upside, though, break of 1.5689 and sustained trading above channel resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.5945 resistance and above.

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.

Daily Pivots: (S1) 1.5514; (P) 1.5594; (R1) 1.5642; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current decline from 1.6434 is in progress for 161.8% projection of 1.6434 to 1.5907 from 1.6232 at 1.5379 next. On the upside, above 1.5716 minor resistance will turn intraday bias neutral and bring consolidations. But near term outlook will remain bearish as long as 1.5907 support turned resistance holds.

In the bigger picture, rise from 1.5250 medium term bottom is seen as a correction to the down trend from 1.9799 (2020 high) only. With 38.2% retracement of 1.9799 to 1.5250 at 1.6988 intact, such down trend is expected to resume at a later stage. Firm break of 1.5250 will target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. In any case, sustained break of 1.6988 fibonacci level is needed to indicate long term reversal.

Daily Pivots: (S1) 1.6829; (P) 1.6925; (R1) 1.6983; More…

While EUR/AUD’s retreat from 1.7062 extends lower, downside is contained above 1.6737 support so far. Intraday bias remains neutral and outlook stays bullish for now. On the upside, firm break 1.7062 will resume larger up trend from 1.4281 to 1.7377 projection level.

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.