Daily Pivots: (S1) 1.4953; (P) 1.5032; (R1) 1.5083; More…

Intraday bias in EUR/AUD remains neutral for the moment. As long as 1.4934 minor support holds, further rise is still expected in the cross. Firm break of 1.5094 resistance will extend the rally from 1.3624 to next medium term fibonacci level at 1.5455. However, considering bearish divergence condition in 4 hour MACD, break of 1.4934 support will confirm short term topping and bring deeper pull back, possibly to 55 day EMA (now at 1.4540).

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 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455 and above. In any case, outlook will now stay cautiously bullish as long as 1.4309 resistance turned support holds.

Daily Pivots: (S1) 1.6233; (P) 1.6299; (R1) 1.6391; More…

Intraday bias in EUR/AUD remains neutral for consolidation above 1.6033 temporary low. Further decline is expected as long as 1.6772 resistance holds. Firm break of 1.6085 support will pave the way to next support level at 1.5346. Nevertheless, break of 1.6772 resistance will indicate short term bottoming and turn bias to the upside for stronger rebound.

In the bigger picture, the firm break of 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 1.6553) suggests that whole up trend from 1.1602 (2012 low) might have completed. Deeper fall would now be seen to 61.8% retracement at 1.4733. This week remain the preferred case now as long as 1.7194 resistance holds.

Daily Pivots: (S1) 1.6444; (P) 1.6518; (R1) 1.6562; More…

Intraday bias in EUR/AUD remains neutral for the moment. More sideway consolidations could be seen, but 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.

EUR/AUD edged lower to 1.6267 last week but recovered since then. Initial bias remains neutral this week for more consolidations. But outlook will stay bearish as long as 1.6515 resistance holds. On the downside, break of 1.6267 will resume the whole decline from 1.7062 to 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 next. However, break of 1.6515 resistance will turn bias back to the upside for stronger rebound.

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.

In the longer term picture, fall from 1.9799 (2020 high) is 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 1.5846) 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) 1.6482; (P) 1.6538; (R1) 1.6614; More…

EUR/AUD failed to break through 1.6586 resistance decisively and retreated. Intraday bias remains neutral first. On the upside, decisive break of 1.6586 will argue that whole fall from 1.9799 has completed at 1.6033. Stronger rebound would then be seen back to 38.2% retracement of 1.9799 to 1.6033 at 1.7472. Though, rejection by 1.6586 will maintain near term bearishness for another fall through 1.6033 later.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall could be seen to 55 month EMA (now at 1.5803). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. However, strong support from 55 week EMA (now at 1.6458) would neutralize the long term bearishness and argues that price actions from 1.9799 are developing into a sideway range pattern instead.

Daily Pivots: (S1) 1.4862; (P) 1.4975; (R1) 1.5085; More…

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.4759 support will suggest that rebound from 1.4318 has completed. Intraday bias will be turn back to the downside for retesting 1.4318 low. On the upside, above 1.5187 will target 1.5277 resistance and than 1.5354 support turned resistance next.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend from 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.

Daily Pivots: (S1) 1.6206; (P) 1.6242; (R1) 1.6285; More…

Intraday bias in EUR/AUD remains neutral at this point. Fall from 1.6785 might be a correction to whole up trend from 1.4281. Break of 1.6134 will target 38.2 retracement of 1.4281 to 1.6785 at 1.5828, which is inside 1.5254/5976 support zone. Nevertheless, sustained break of 1.6354 minor resistance will turn bias back to the upside for retesting 1.6785 high instead.

In the bigger picture, whole down trend from 1.9799 (2020 high) should have completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.4909; (P) 1.4938; (R1) 1.4977; More….

Intraday bias in EUR/AUD remains neutral as consolidation continues in range of 1.4791/5173. On the upside, break of 1.5173/5226 resistance zone will finally resume larger rise from 1.3624. On the downside, break of 1.4791 support will turn bias to the downside and extend the fall from 1.5173 to retest 1.4421 support.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

EUR/AUD stayed in consolidative trading in range of 1.5984/6357 last week and outlook is unchanged. Initial bias is neutral this week for more sideway trading. As long as 1.5984 support holds, further rise is still expected. On the upside, break of 1.6357 will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

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. However, sustained break of 1.5984 will be an early sign of trend reversal and turn focus to 1.5601 support for confirmation.

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) 1.4526; (P) 1.4583; (R1) 1.4617; More…

EUR/AUD continues to lose upside moment, as seen in 4 hour MACD, ahead of 1.4721 key resistance. At this point, further rise is still expected as long as 1.4334 support holds. We’re holding on to the case of trend reversal after defending 1.3671 key support. Decisive break of 1.4721 will confirm our bullish view. However, break of 1.4334 will suggest rejection from 1.4721 and turn bias back to the downside for 1.3980 support instead.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after defending 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.

EUR/AUD’s break of 1.5606 resistance last week suggests that consolidation pattern from 1.5250 is already in it’s third leg. Initial bias stays mildly on the upside this week for 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.

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 1.5832) now further affirms this case could bring deeper decline to 1.1602/3624 support zone.

Daily Pivots: (S1) 1.4726; (P) 1.4781; (R1) 1.4863; More…

EUR/AUD’s rise from 1.4421 continues today and reaches as high as 1.4883 so far. Intraday bias remains on the upside for 1.5073 resistance. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Break of 1.5037 will resume the rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 next. On the downside, below 1.4701 minor support will turn intraday bias neutral first. But outlook will stay cautiously bullish as long as 1.4564 support holds.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to resume to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, another decline will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.4570; (P) 1.4602; (R1) 1.4639; More…

EUR/AUD dips mildly today but stays in established range. Intraday bias remains neutral first. Further decline is expected as long as 1.4804 resistance holds. On the downside, firm break of 1.4318 low will resume larger down trend to medium term projection level at 1.3623. However, break of 1.4804 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) 1.6144; (P) 1.6210; (R1) 1.6252; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.6319 resistance will now indicate short term bottoming, on bullish convergence condition in 4H MACD. Intraday bias will be back on the upside for 1.6478 resistance. Nevertheless, on the downside, below 1.6148 will resume recent decline for 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106.

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) 1.5829; (P) 1.5887; (R1) 1.5954; More….

Intraday bias in EUR/AUD remains neutral at this point. We’re holding on to the view that decline from 1.6765 has completed at 1.5721 already, on bullish convergence condition in 4 hour MACD. On the upside, break of 1.6060 should confirm this bullish view and target a test on 1.6765 high. On the downside, however, break of 1.5721 will extend the decline to 1.5346 support instead..

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.

Daily Pivots: (S1) 1.6287; (P) 1.6356; (R1) 1.6390; More…

EUR/AUD’s decline from 1.6593 resumes and hit as low as 1.6235 so far. Intraday bias is back on the downside or 1.6106 support next. Break will bring focus back to 1.5962 low. On the upside above 1.6448 resistance will turn bias back to the upside for 1.6593 resistance instead.

In the bigger picture, EUR/AUD drew support from 55 week EMA and rebounded strongly again. The development indicates that up trend from 1.1602 (2012 low) is still in progress. Further rise should be seen to 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. This will remain the favored case as long as 1.5962 support holds.

Daily Pivots: (S1) 1.6104; (P) 1.6147; (R1) 1.6178; More…

Intraday bias in EUR/AUD remains neutral at this point. With 1.6259 minor resistance intact, further decline is expected. On the downside, break of 1.6025 will resume the fall from 1.6448 to 1.5683 support and below. On the upside, break of 1.6259 will indicate that corrective pull back from 1.6448 has completed. And further rise should be seen back to retest 1.6448 high.

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) 1.6115; (P) 1.6185; (R1) 1.6314; More…

EUR/AUD’s break of 1.6200 resistance confirms resumption of larger rise from 1.4281. Intraday bias is back on the upside for 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302 and then 1.6389 fibonacci level. On the downside, below 1.6053 minor support will turn intraday bias neutral first. But outlook will continue to stay bullish as long as 1.5848 support holds.

In the bigger picture, the strong support from 55 week EMA (now at 1.5404) is raising the chance of bullish trend reversal. Focus is now 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 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) 1.5337; (P) 1.5457; (R1) 1.5519; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current down trend from 1.9799 should target 100% projection of 1.6409 to 1.5591 from 1.5945 at 1.5127 next. On the upside, above 1.5504 minor resistance will turn bias neutral and bring consolidations first, before staging another decline.

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) 1.4812; (P) 1.4881; (R1) 1.4988; More…

Intraday bias in EUR/AUD remains on the upside for the moment. Outlook is unchanged that whole correction from 1.6587 has completed at 1.3624 already after defending 1.3671 key support level. Further rise should be seen to 1.5094 resistance first. Break there will target next medium term fibonacci level at 1.5455. On the downside, break of 1.4669 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed after defending 1.3671 key support. Rise from 1.3642 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455 and above. In any case, outlook will now stay cautiously bullish as long as 1.4309 resistance turned support holds.