EUR/AUD’s fall from 1.6827 resumed last week and reached as low as 1.6040. Initial bias stays on the downside this week. Decisive break of 1.6033 low will resume larger down trend from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984. On the upside, above 1.6178 minor resistance will indicate some support from 1.6033 and turn intraday bias neutral first.

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.

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 1.5847) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6042; (P) 1.6155; (R1) 1.6218; More…

EUR/AUD’s fall from 1.6827 resumes by breaking 1.6122. Intraday bias is back on the downside with focus on 1.6033 low. Decisive break there will resume larger fall from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984. On the upside, above 1.6178 minor resistance will indicate some support from 1.6033 and turn intraday bias neutral first.

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) 1.6160; (P) 1.6255; (R1) 1.6331; More…

EUR/AUD’s deeper than expected fall argues that rebound from 1.6122 has completed much earlier than expected at 1.6420. But downside is contained above 1.6122 and intraday bias stays neutral first. On the downside, break of 1.6122 will bring retest of 1.6033 low. On the upside, break of 1.6420 will continue to extend consolidation from 1.0633 with another rise towards 1.6827 resistance.

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) 1.6305; (P) 1.6335; (R1) 1.6367; More…

EUR/AUD is staying in consolidation from 1.6420 and intraday bias remains neutral first. Rebound from 1.6122 short term bottom, as another rising leg in the consolidation pattern from 1.6033, is expected to resume sooner or later. Break of 1.6420 will turn bias to the upside for 1.6827 resistance. Nevertheless, on the downside, break of 1.6122 will bring retest of 1.6033 low.

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) 1.6268; (P) 1.6334; (R1) 1.6386; More…

Intraday bias in EUR/AUD stays neutral at this point. Rebound from 1.6122 short term bottom, as another rising leg in the consolidation pattern from 1.6033, is expected to resume sooner or later. Break of 1.6420 will turn bias to the upside for 1.6827 resistance. Nevertheless, on the downside, break of 1.6122 will bring retest of 1.6033 low.

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) 1.6278; (P) 1.6345; (R1) 1.6384; More…

Intraday bias in EUR/AUD remains neutral for the moment. Rebound from 1.6122 short term bottom, as another rising leg in the consolidation pattern from 1.6033, is expected to resume sooner or later. Break of 1.6420 will turn bias to the upside for 1.6827 resistance. Nevertheless, on the downside, break of 1.6122 will bring retest of 1.6033 low.

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.

EUR/AUD rebounded to as high as 1.6420 last week but retreated. Initial bias remains neutral this week first. Current development suggest short term bottoming at 1.6122. Consolidation pattern from 1.6033 could have started another rising leg. Break of 1.6420 will turn bias to the upside for 1.6827 resistance. Nevertheless, on the downside, break of 1.6122 will bring retest of 1.6033 low.

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.

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 1.5855) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6292; (P) 1.6332; (R1) 1.6364; More…

EUR/AUD retreated after hitting 1.6420 and intraday bias is turned neutral. We’re viewing rebound from 1.6122 as a rising leg in the consolidation pattern from 1.6033. Above 1.6420 will target 1.6827 resistance. On the downside, though, break of 1.6122 will bring retest of 1.6033 low.

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) 1.6301; (P) 1.6361; (R1) 1.6401; More…

Intraday bias in EUR/AUD remains mildly on the upside at this point. Consolidation pattern from 1.6033 should have started another rising leg. Further rise could be seen back to 1.6827 resistance. On the downside, break of 1.6122 will bring retest of 1.6033 low.

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) 1.6263; (P) 1.6325; (R1) 1.6433; More…

EUR/AUD’s break of 1.6343 resistance suggest short term bottoming at 1.6122. Intraday bias is turned back to the upside for 1.6827 resistance, to extend the consolidation pattern from 1.6033 with another rising leg. On the downside, break of 1.6122 will bring retest of 1.6033 low.

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) 1.6178; (P) 1.6228; (R1) 1.6293; More…

Range trading continues in EUR/AUD and intraday bias remains neutral first. 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) 1.6157; (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.

EUR/AUD edged lower to 1.6122 last week but recovered quickly. Initial bias stays neutral this week first. Further fall is expected as long as 1.6343 resistance holds. 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, consolidation pattern fro 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.

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 1.5838) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6158; (P) 1.6185; (R1) 1.6215; More…

Intraday bias in EUR/AUD stays neutral for consolidations first. On the downside, break of 1.6122 will target a rest on 1.6033 low. Decisive break there will resume larger down trend from 1.9799. On the upside, however, firm break of 1.6343 resistance will now suggest short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests 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 (now at 1.6433) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.6129; (P) 1.6187; (R1) 1.6233; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, break of 1.6122 will target a rest on 1.6033 low. Decisive break there will resume larger down trend from 1.9799. On the upside, however, firm break of 1.6343 resistance will now suggest short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests 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 (now at 1.6433) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.6100; (P) 1.6176; (R1) 1.6230; More…

Intraday bias in EUR/AUD is turned neutral again as it recovered quickly after dipping to 1.6122. On the downside, break of 1.6122 will target a rest on 1.6033 low. Decisive break there will resume larger down trend from 1.9799. On the upside, however, firm break of 1.6343 resistance will now suggest short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests 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 (now at 1.6433) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.6204; (P) 1.6236; (R1) 1.6281; More…

EUR/AUD’s break of 1.6144 support turns intraday bias the downside for retesting 1.6033 low. Decisive break there will resume larger down trend from 1.9799. On the upside, through, break of 1.6269 resistance will now suggest short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests 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 (now at 1.6433) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.6182; (P) 1.6258; (R1) 1.6311; More…

Consolidation from 1.6144 is still in progress and intraday bias remains neutral in EUR/AUD. Further fall is expected with 1.6374 resistance intact. On the downside, break of 1.6144 will target retest of 1.6033 low first. Decisive break there will resume larger down trend from 1.9799. On the upside, break of 1.6374 resistance will turn bias to the upside, and extend the consolidation pattern from 1.6033 with another rising leg.

In the bigger picture, current development suggests 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 (now at 1.6459) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

EUR/AUD stayed consolidation above 1.6144 temporary low last week and outlook is unchanged. Initial bias remains neutral this week first. Still, further fall is expected with 1.6374 resistance intact. On the downside, break of 1.6144 will target retest of 1.6033 low first. Decisive break there will resume larger down trend from 1.9799. On the upside, break of 1.6374 resistance will turn bias to the upside, and extend the consolidation pattern from 1.6033 with another rising leg.

In the bigger picture, current development suggests 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 (now at 1.6459) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

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 1.5838) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6244; (P) 1.6277; (R1) 1.6335; More…

EUR/AUD is staying in sideway trading from 1.6144 and intraday bias remains neutral first. On the downside, break of 1.6144 will target a test on 1.6033. Decisive break there will resume larger down trend from 1.9799. However, break of 1.6374 resistance will extend the consolidation from 1.6033 with another rising leg, and turn bias to the upside for 1.6827.

In the bigger picture, current development suggests 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 (now at 1.6459) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.