Daily Pivots: (S1) 1.5548; (P) 1.5585; (R1) 1.5624; More…

Intraday bias in EUR/AUD is mildly on the upside as rebound from 1.5354 would target 55 day EMA (now at 1.5788). On the downside, break of 1.5354 will resume the fall from 1.6434 to retest 1.5250 low. Sustained break there will resume larger down trend from 1.9799.

In the bigger picture, the down trend from 1.9799 (2020 high) is in progress. Firm break of 1.5250 low will confirm resumption nand 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) 1.6039; (P) 1.6076; (R1) 1.6111; More…

Intraday bias in EUR/AUD remains on the for moment. Current rise from 1.5250 is at least correcting the whole fall from 1.9799. Further rise should be seen to 1.6827 resistance next. On the downside, below 1.6039 minor support will turn intraday bias neutral first. But further rise is expected as long as 1.5773 support holds, in case of retreat.

In the bigger picture, outlook stays bearish with 1.6033 support turned resistance intact for now. Fall from 1.9799, as a correction to to long term up trend from 1.1602 (2012 low) is still in favor to resume through 1.5250 later. However, firm break of 1.6033 will argue that such decline has completed. Stronger rebound would then be seen 38.2% retracement of 1.9799 to 1.5250 at 1.6988.

Daily Pivots: (S1) 1.5440; (P) 1.5507; (R1) 1.5623; More….

EUR/AUD surges to as high as 1.5622 as rebound from 1.5153 resumed. Intraday bias is back on the upside for 1.5770 resistance. At this point, we’d be cautious on strong resistance from there to limit upside and bring another decline. Below 1.5494 resistance turned support will turn intraday bias back to the upside. Nonetheless, sustained break of 1.5770 will confirm resumption of larger up trend from 136.24.

In the bigger picture, price actions from 1.5770 so far suggests that it’s corrective in nature. That is, medium term rise from 1.3624 is not completed yet. Break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, sustained break of 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950) will indicate medium term reversal. And there is prospect of retesting 1.3624 low in that bearish case.

Daily Pivots: (S1) 1.5961; (P) 1.5993; (R1) 1.6046; More…

EUR/AUD’s rally resumes by powering through 1.6064 temporary top and intraday bias is back on the upside. Focus is now on 1.6122 resistance. Decisive break will confirm the bullish view that correction from 1.6765 has completed with three waves down to 1.5683. In this case, further rise should be seen back to retest 1.6765 high. On the downside, break of 1.5905 support is needed to indicate completion of the rise from 1.5683. Otherwise, near term outlook will remain bullish in case of retreat.

In the bigger picture, as long as 1.5346 support holds, outlook will still 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) 1.5852; (P) 1.5917; (R1) 1.5954; More….

EUR/AUD is staying in consolidation from 1.5774 and intraday bias remains neutral. Near term outlook stays bearish with 1.6154 resistance intact and further decline is expected. On the downside, break of 1.5774 will resume the fall from 1.6765 and target 1.5346 key support next. On the upside, break of 1.6154 will argue that the pull back has completed. 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) 1.4290; (P) 1.4425; (R1) 1.4529; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current down trend should now target 1.3624 long term support next. On the upside, above 1.4559 minor resistance will turn intraday bias neutral and bring recovery. But outlook will stay bearish as long as 1.4940 resistance holds.

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 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) 1.5523; (P) 1.5578; (R1) 1.5639; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.5650 resistance 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 strong rebound last week and break of 1.3900 resistance indicate short term bottoming at 1.3624, on bullish convergence condition in 4 hour MACD. Also, it’s an early sign on trend reversal as the cross defended 1.3671 key support level. Initial bias stays on the upside this week for 1.4289 resistance first. Break will confirm this affirm this case and target 1.4721 resistance for confirmation. On the downside, below 1.3835 minor support will dampen this bullish view and turn bias back to the downside for 1.3624 low.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level 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 turn 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.

Daily Pivots: (S1) 1.3878; (P) 1.3921; (R1) 1.3966; More…

Intraday bias in EUR/AUD remains neutral for the moment for consolidation below 1.4014 temporary top. At this point, we’re still preferring the case of short term bottoming at 1.3624, on bullish convergence condition in 4 hour MACD. Hence, another rise is expected and above 1.4014 will target 1.4289 resistance. Break there will confirm trend reversal. However, below 1.3835 minor support will dampen our bullish view and turn bias back to the downside for 1.3624 low.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level 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 turn 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.

Daily Pivots: (S1) 1.4341; (P) 1.4381; (R1) 1.4438; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, break of 1.4072 will extend the correction from 1.6587 towards next key support level 1.3671. Meanwhile, decisive break of 1.4880 resistance will indicate that such correction from 1.6587 is completed and turn near term outlook bullish for 1.5094 resistance next.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a consolidative pattern. 50% retracement of 1.1602 to 1.6587 at 1.4095 was already met. While further fall cannot be ruled out, 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 1.5094 will be the first sign of resumption of up trend from 1.1602 and target retesting 1.6587 resistance first.

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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.

Daily Pivots: (S1) 1.6216; (P) 1.6265; (R1) 1.6327; More…

No change in EUR/AUD’s outlook as consolidation from 1.6033 is still extending. Intraday bias remains neutral for the moment. Outlook stays bearish as long as 1.6585 resistance holds. On the downside, break of 1.6033 will resume the whole fall from 1.9799, towards long term EMA at 1.5792. Nevertheless, on the upside, break of 1.6585 resistance should confirm short term bottoming and turn bias 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 55 month EMA (now at 1.5792). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.6586 resistance holds.

Daily Pivots: (S1) 1.5514; (P) 1.5603; (R1) 1.5760; More…

EUR/AUD’s recovery from 1.5250 short term bottom could extend higher. But still, outlook stays bearish as long as 1.5945 resistance holds. Break of 1.5487 minor support will bring retest of 1.5250 low. However, firm break of 1.5945 will suggest that fall from 1.6827 has completed. Stronger rise would then be seen back to 1.6033 resistance turned support 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) 1.4492; (P) 1.4634; (R1) 1.4734; More…

Intraday bias in EUR/AUD remains on the downside as current fall from 1.5226 is targeting 100% projection of 1.5226 to 1.4625 from 1.4472 next. Firm break there would pave the way to larger fibonacci level at 61.8% retracement of 1.3624 to 1.5226 at 1.4236. On the upside, above 1.4624 minor resistance will turn intraday bias neutral first.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. But we will monitor the structure of the decline from 1.5226 to adjust our view. Above 1.5226 will target a test on 1.6587 key resistance. However, further downside acceleration will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

EUR/AUD’s up trend resumed last week and surged to as high as 1.6783. But as a temporary top was formed there. Initial bias remains neutral for consolidations. Downside of retreat should be contained by 1.6444 resistance turned support to bring rally resumption. On the upside, break of 1.6785 will resume larger up trend from 1.4281 to 100% projection of 1.4281 to 1.5976 from 1.5254 at 1.6949.

In the bigger picture, the solid break of 1.6434 resistance argues that whole down trend from 1.9799 (2020 high) has 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.

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). Attention will be paid on the structure on the current rally to make an assessment later.

Daily Pivots: (S1) 1.6980; (P) 1.7070; (R1) 1.7137; More…

4 hour MACD crossed above signal line with today’s recovery. Intraday bias in EUR/AUD is turned neutral first. Another fall cannot be ruled out. 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.

Daily Pivots: (S1) 1.6459; (P) 1.6486; (R1) 1.6513; More…

Intraday bias in EUR/AUD remains neutral for the moment. 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, below 1.6455 minor support will turn bias to the downside for 1.6348 and possibly below.

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.

Daily Pivots: (S1) 1.5988; (P) 1.6114; (R1) 1.6192; More…

EUR/AUD recovers after drawing support from 1.6053 and intraday bias remains neutral first. Focus stays on 0.6389/6434 cluster resistance zone. Decisive break there will carry larger bullish implications. However, firm break of 1.6053 will confirm short term topping, after rejection by the mentioned resistance. Intraday bias will be turned back to the downside for 1.5848 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.

EUR/AUD drew supported from 1.5626 and bottomed at 1.5621, then rebounded strongly. The development suggests that larger up t rend from 1.3624 is not finished yet. Initial bias remains on the upside this week for retesting 1.5976 high first. Break will resume the upside for 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. On the downside, below 1.5784 minor support will delay the bullish case and turn intraday bias neutral first.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5153 support is needed to indicate medium term reversal. Otherwise, outlook will stays bullish even 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 1.3671 should indicate long term reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.6328; (P) 1.6444; (R1) 1.6505; More…

EUR/AUD remains in consolidation form 1.6593 and intraday bias stays neutral. Downside of consolidation should be contained above 1.6294 resistance turned support to bring rise resumption. On the upside, break of 1.6593 will extend whole rally from 1.5962 to retest 1.6786 high.

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.