Daily Pivots: (S1) 1.6057; (P) 1.6101; (R1) 1.6142; More…

EUR/AUD’s break of 1.6181 minor resistance suggests short term bottoming at 1.5976, ahead of 1.5905 support. Intraday bias is turned back to the upside for 1.6432 resistance first. On the downside, break of 1.5976 will resume the fall from 1.6432 to key support zone of 1.5894/5905.

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 1.6058) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5763; (P) 1.5824; (R1) 1.5932; More…

EUR/AUD accelerates to as high as 1.5963 so far. Intraday bias stays on the upside for retesting 1.5976 high. Decisive break there will resume whole rally from 1.4281. Next target will be 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302. On the downside, below 1.5826 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) 1.5880; (P) 1.5935; (R1) 1.5990; More….

No change in EUR/AUD’s outlook. With 1.6154 minor resistance intact, fall from 1.6765 is expected to extend lower. On the downside, sustained break of 61.8% retracement of 1.5346 to 1.6765 at 1.5888 will pave the way to 1.5346 key support level. On the upside, however, break of 1.6154 will indicate short term bottoming. Intraday bias will then be turned back to the upside for retesting 1.6765.

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) 1.5500; (P) 1.5583; (R1) 1.5634; More….

EUR/AUD’s decline accelerates to as low as 1.5487 so far and intraday bias remains on the upside. Prior break of 1.5621 support is taken as an indication of medium term reversal. Current fall should target 1.5153 support next. On the upside, above 1.5593 minor resistance will turn bias neutral and bring consolidations. But recovery should be limited well below 1.5773 resistance to bring fall resumption.

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, break of 55 day EMA (now at 1.5849) is needed to indicate completion of the fall from 1.6189. Otherwise, further fall is expected in medium term, even in case of strong rebound.

Daily Pivots: (S1) 1.6575; (P) 1.6615; (R1) 1.6650; More…

Intraday bias in EUR/AUD remains neutral at this point as consolidation from 1.6692 is extending. Overall, further rally is expected as long as 1.6450 support holds. Current development suggests that whole correction from 1.7062 should have completed with three waves down to 1.6127. Break of 1.6692 will resume the rise from 1.6127 to 61.8% projection of 1.6127 to 1.6671 from 1.6450 at 1.6786 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). 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.

EUR/AUD’s rebound from 1.5846 tried to resume last week, but retreated after edging higher to 1.6601. Initial bias remains neutral this week first. Near term outlook stays cautiously bullish as long as 1.6231 support holds. On the upside, break of 1.6601 will target 1.6785 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.

Daily Pivots: (S1) 1.6245; (P) 1.6280; (R1) 1.6336; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.6323 is extending. Further rise is in favor as long as 1.6202 minor support holds. On the upside, above 1.6323 will resume the rise from 1.5976 to 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) 1.6645; (P) 1.6719; (R1) 1.6793; More…

Range trading continues in EUR/AUD and intraday bias stays neutral. On the downside, break of 1.6647 will extend the corrective fall from 1.7062 to 1.6259/6601 support zone. On the upside, firm break of 1.6887 resistance should confirm that correction from 1.7062 has completed at 1.6647. Further rally should be seen through 1.7062 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 deep pull back.

Daily Pivots: (S1) 1.5530; (P) 1.5591; (R1) 1.5643; More…

EUR/AUD retreated deeply after hitting 1.5650 and intraday bias is turned neutral again. Another rise is mildly in favor. Above 1.5650 will target 1.5749 resistance. Decisive break there will confirm that correction from 1.5976 has completed with three waves down, after drawing support from 1.5271. Further rally would be seen back to retest 1.5976 high. On the downside, break of 4 hour 55 EMA (now 1.5441) will turn bias back to the downside for retesting 1.5254 instead.

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) 1.6523; (P) 1.6591; (R1) 1.6649; More…

Intraday bias in EUR/AUD stays neutral for the moment. With 1.6485 support intact, further rise is expected. The cross should be in correction to fall from 1.9799 to 1.6033. Break of 1.6827 will target 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6485 support will argue that the rebound might be completed and turn focus to 1.6337 support for confirmation.

In the bigger picture, EUR/AUD is now back above 55 day EMA (now at 1.6463) with current rebound. The development argues that price actions form 1.9799 might be developing into a sideway pattern only. That is, medium term outlook is just neutral, and up trend from 1.1602 (2012 low) could resume at a later stage. On the downside, though, sustained trading below 55 week EMA would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.5319; (P) 1.5384; (R1) 1.5484; More…

Intraday bias in EUR/AUD remains neutral for the moment. While corrective pattern from 1.5704 might extend, downside should be contained by 55 day EMA (now at 1.5265) to bring rebound. On the upside, break of 1.5704 will resume larger rise from 1.4281. However, sustained trading below 55 day EMA will bring deeper correction towards 1.4965 resistance turned support.

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) 1.4970; (P) 1.4992; (R1) 1.5026; More…

EUR/AUD is losing upside momentum as seen in 4 hour MACD. But with 1.4824 minor support intact, further rise is still expected to 1.5073 resistance. Correction from 1.5226 should have completed with three waves down to 1.4421 already. Firm break of 1.5073 will likely 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, however, break of 1.4824 support will dampen our bullish view and turn bias back to the downside for 1.4564 support instead.

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 extend 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.

EUR/AUD’s up trend continued last week and hit as high as 1.7062. Further rally is expected this week, as part of the whole up trend from 1.4281. Next target is 1.7377 projection level. On the downside, break 1.6737 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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.

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 1.5846 support holds. Next target is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.

Daily Pivots: (S1) 1.4844; (P) 1.4924; (R1) 1.5005; More…

Intraday bias in EUR/AUD stays mildly on the upside for the moment. Current rebound form 1.4281 should target 61.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5139 and then 100% projection at 1.5400. On the downside, break of 1.4716 support is needed to indicate completion of the rebound. Otherwise, further rise will remain in favor in case of retreat.

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.

EUR/AUD’s medium term decline from 1.6587 extended last week and reached as low as 1.3838. Intraday bias remains on the downside this week and deeper fall should be seen to 1.3671 key support level. At this point, we’d still expect strong support around 1.3671 to bring rebound. On the upside, break of 1.4038 resistance will indicate short term bottoming and turn focus back to 1.4289 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 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, break of 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

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EUR/AUD’s decline from 1.7180 extended to as low as 1.6256 last week but recovered since then. Initial bias is turned neutral this week for some consolidations. Further decline would remain in favor as long as 1.6580 resistance holds. Below 1.6256 will target 1.5996 key support level next.

In the bigger picture, outlook is mixed up by the deeper than expected fall from 1.7180. Yet as long as 1.5996 support holds, up trend from 1.4281 (2022 low) is still expected to resume at a later stage. Firm break of 1.7180 will pave the way to 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715.

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 1.5987) 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) 1.6174; (P) 1.6207; (R1) 1.6242; More…

EUR/AUD is staying in consolidation from 1.6262 and intraday bias remains neutral. In case of another fall, downside should be contained by 38.2% retracement of 1.5683 to 1.6262 at 1.6041 to bring rise resumption. Current development argues that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, break of 1.6262 will target retest of 1.6765 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, with bearish divergence condition in weekly MACD, and turn outlook bearish.

Daily Pivots: (S1) 1.6417; (P) 1.6469; (R1) 1.6501; More…

EUR/AUD failed to break through 1.6586 resistance as consolidation from 1.6033 extends. Intraday bias remains neutral first. As long as 1.6586 resistance holds, further decline and break of 1.6033 remains in favor. However, on the upside, sustained break of 1.6585 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) 1.5612; (P) 1.5660; (R1) 1.5695; More…

No change in EUR/AUD’s outlook as further decline is expected with 1.5762 minor resistance intact. On the downside, break of 1.5591 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.

Daily Pivots: (S1) 1.5289; (P) 1.5360; (R1) 1.5403; More….

Intraday bias in EUR/AUD stays neutral for the moment and outlook is unchanged. The correction from 1.5570 could still extend lower. But again, near term outlook stays bullish with 1.5226 resistance turned support intact. Break of 1.5526 minor resistance will turn bias back to the upside for retesting 1.5770 resistance. However, sustained break of 1.5226 will indicate larger reversal and target 1.4949 support next.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low). However, sustained break of 1.5226 will indicate trend reversal and target 1.3624 again.