Daily Pivots: (S1) 1.4076; (P) 1.4112; (R1) 1.4171; More…

Intraday bias in EUR/AUD remains neutral for the moment as it’s staying in range below 1.4183. Overall, with 1.3872 intact, we’re still favoring the case of trend reversal after defending key support level at 1.3671. This is supported by bullish convergence condition in daily MACD. On the upside, above 1.4183 will turn bias to the upside for 1.4289 resistance next. Break will affirm our view and target next key resistance level at 1.4721. However, break of 1.3872 minor support will invalidate our view and turn bias back to the downside for retesting 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) 1.4186; (P) 1.4248; (R1) 1.4323; More…

Intraday bias in EUR/AUD remains on the upside for the moment. Current rise from 1.3624 should target 100% projection of 1.3624 to 1.4183 from 1.3872 at 1.4431 next. Decisive break there will indicate upside acceleration and target 1.4721 key resistance. On the downside, below 1.4148 minor support will turn bias neutral and bring consolidations first before staging another rally.

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 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 focus back to 1.1602 long term bottom.

EUR/AUD edged higher to 1.6323 last week but lost momentum retreated. Initial bias is neutral this week for some consolidations first. Further rise will remain in favor as long as 1.6202 minor support holds. 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.

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. This will remain the favored case as long as 1.5894 remains intact. However, firm break of 1.5894 will be an early sign of major topping and turn focus to 1.5346 key support for confirmation.

Daily Pivots: (S1) 1.6737; (P) 1.6780; (R1) 1.6821; More…

Focus stays on 1.6843 resistance in EUR/AUD. Decisive break there will resume the rebound from 1.6319 for retesting 1.7062 high next. On the downside, however, below 1.6666 minor support will turn bias back to the downside for 1.6449 support instead.

In the bigger picture, while 1.7062 is a medium term top, there is no clear sign of trend reversal as EUR/AUD continues to draw strong support from the medium term trend line. Break of 1.7062 will resume the larger up trend from 1.4281 (2022 low) to 1.7691 fibonacci level. Nevertheless, break of 1.6449 support will argue that deeper correction is underway to 38.2% retracement of 1.4281 to 1.7062 at 1.6000.

Daily Pivots: (S1) 1.5313; (P) 1.5390; (R1) 1.5439; More…

EUR/AUD is still holding in range above 1.5250 low and intraday bias stays neutral first. With near term falling channel intact, further decline is in favor. 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) 1.5840; (P) 1.5886; (R1) 1.5927; More…

Intraday bias in EUR/AUD remains neutral and outlook is unchanged. As long as 1.5776 support holds, further rise remains mildly in favor. Above 1.6002 will turn bias to the upside for 1.6223 resistance first. However, on the downside, 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) 1.3930; (P) 1.3985; (R1) 1.4027; More…

With 1.4075 minor resistance intact, deeper fall is expected in EUR/AUD even though downside momentum is diminishing. Current fall from 1.4721 is seen as part of the larger decline from 1.6587. We’d expect strong support from 1.3671 to contain downside and bring reversal, possibly on bullish convergence condition in 4 hour MACD. On the upside, above 1.4075 minor resistance will turn intraday bias neutral first. Break of 1.4289 resistance will indicate short term bottoming and turn bias back to the upside for 1.4721 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a consolidative pattern. 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 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high.

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Daily Pivots: (S1) 1.5153; (P) 1.5217; (R1) 1.5265; More…

Intraday bias in EUR/AUD remains neutral at this point. On the upside, sustained break of 1.5354 support turned resistance will indicate medium term bottoming at 1.4318. Stronger rally would be seen back to 100% projection of 1.4318 to 1.5277 from 1.4759 at 1.5718. On the downside, however, break of 1.5083 minor support will retain medium term bearishness, and turn bias back to the downside for 1.4759 support instead.

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) 1.5663; (P) 1.5699; (R1) 1.5737; More….

EUR/AUD is still bounded in the consolidation pattern from 1.5816. Intraday bias stays neutral. Also, near term outlook will remain cautiously bullish with 1.5606 support holds. On the upside, break of 1.5816 should now confirm resumption of medium term rise from 1.3264. In that case, EUR/AUD should target 1.6587 key long term resistance. Meanwhile, firm break of 1.5606 will argue that a short term top is formed. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.5520) and below.

In the bigger picture, medium term rise from 1.3624 is not completed yet. Sustained break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, 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) 1.6252; (P) 1.6341; (R1) 1.6435; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.6033 is extending. Further decline is in favor as long as 1.6772 resistance holds. On the downside, break of 1.6033 will resume whole decline from 1.9799 and target next support level at 1.5346. On the upside, though, break of 1.6772 will indicate short term bottoming and turn bias to the upside for 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 week remain the preferred case now as long as 1.7194 resistance holds.

Daily Pivots: (S1) 1.5617; (P) 1.5650; (R1) 1.5699; More….

Intraday bias in EUR/AUD remains neutral for consolidation below 1.5770 short term top. Deeper decline could be seen and break of 1.5458 support cannot be ruled out. But downside should be contained above 1.5226 key support to bring rally resumption. On the upside, break of 1.5770 will resume the medium term rise and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first.

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).

EUR/AUD’s rebound from 1.6319 resumed last week, and the development suggests that corrective fall from 1.7062 has completed, after drawing support from medium term trend line. Initial bias stays on the upside this week for retesting 1.7062 high. For now, risk will stay on the upside as long as 1.6442 support holds, in case of retreat.

In the bigger picture, the strong support from medium term rising trend line indicates that rise from 1.4281 (2022 low) is still in progress. On resumption, next target is 100% projection of 1.5846 to 1.7062 from 1.6319 at 1.7353. In any case, outlook will stay bullish as long as 1.6319 support holds.

In the longer term picture, loss of upside momentum as seen in 55 W MACD at this stage argues that rise from 1.4281 (2022 low) is more likely a corrective move. Further rise could still be seen as long as 1.5846 support holds. But upside will likely be limited by 61.8% retracement of 1.9799 to 1.4281 at 1.7691. Firm break of 1.5846 support will argue that the rise has completed, and another medium term down leg has started.

Daily Pivots: (S1) 1.6272; (P) 1.6339; (R1) 1.6383; More…

EUR/AUD drops notably today but stays in range above 1.6033. Intraday bias remains neutral for the moment. Further decline is expected as long as 1.6772 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) 1.6287; (P) 1.6307; (R1) 1.6330; More…

Intraday bias in EUR/AUD remains neutral for the moment. While stronger recovery might be seen, further decline is expected as long as 1.6494 resistance holds. Fall from 1.6742 is seen as the third leg of the corrective pattern from 1.7062. Break of 1.6216 will turn bias back to the downside to 1.6127 support, or further to 100% projection of 1.7062 to 1.6127 from 1.6742 at 1.5807.

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 deeper 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.

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) 1.6527; (P) 1.6579; (R1) 1.6662; More…

Intraday bias in EUR/AUD stays on the upside at this point. As noted before, Correction from 1.7062 should have completed with three waves down to 1.6127. Further rise should be seen to 1.6844 resistance for confirmation. On the downside, below 1.6495 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

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 bring rebound.

EUR/AUD was bounded in tight range between 1.4945/5101 last week and outlook is unchanged. Initial bias stays neutral this week first. Fall from 1.5241 is seen as the third leg of the consolidation pattern from 1.5226. Another decline is in favor as long as 1.5101 minor resistance holds. Break of 1.4945 will target 1.4791 support and possibly further to 1.4421. On the upside, though above 1.5101 will turn focus back to 1.5241 resistance instead.

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. Sustained trading 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.

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) 1.6157; (P) 1.6182; (R1) 1.6217; More…

Intraday bias in EUR/AUD remains neutral for consolidation above 1.6122 temporary low. Further decline is expected with 1.6343 resistance intact. Break of 1.6122 will target 1.6033 low first. Decisive break there will resume larger down trend from 1.9799. On the upside, break of 1.6343 resistance will firstly indicate short term bottoming. Also, sideway pattern from 1.6033 should have then started another rising leg.

In the bigger picture, price action from 1.9799 are seen as developing into a corrective pattern. The question is whether it’s a sideway pattern or a deep correction. On the downside, sustained break of 1.6033 will suggest it’s the latter case and target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. On the upside, break of 1.6827 resistance will favor the former case and bring stronger rebound.

Daily Pivots: (S1) 1.5351; (P) 1.5396; (R1) 1.5440; More….

Intraday bias in EUR/AUD is mildly on the upside for the moment. A short term bottom was formed at 1.5153 on bullish convergence condition in 4 hour MACD. Further rise would be seen back to retest 1.5770 high. On the downside, break of 1.5153 will resume the fall from 1.5770 to 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950).

In the bigger picture, decline from 1.5770 just breached 1.5226 key support briefly and recovered. The development is reviving the bullish case that rise from 1.3624 is still in progress. But considering bearish divergence condition in daily MACD, we’d prefer to see firm break of 1.5770 resistance to confirm. On the downside, sustained trading below 55 week EMA (now at 1.4950) will likely bring retest of 1.3624 support. 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.

EUR/AUD dipped to 1.6231 last week but quickly rebounded after drawing support from 1.6247. Initial bias stays neutral first and outlook remains mildly bullish. 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 1.6231 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.

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.