Daily Pivots: (S1) 1.6502; (P) 1.6535; (R1) 1.6577; More…

Intraday bias in EUR/AUD is back on the upside as rise from 1.5996 resumes. Further rally should be seen to 1.6742 resistance. As noted before, corrective fall from 1.7062 should have completed with three waves down to 1.5998. Firm break of 1.6742 will argue that larger up trend is going to resume through 1.7062 high. On the downside, however, break of 1.6491 support will delay the bullish case and turn intraday bias neutral first.

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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 55 D EMA (now at 1.6296) holds.

Daily Pivots: (S1) 1.6498; (P) 1.6545; (R1) 1.6571; More…

Intraday bias in EUR/AUD stays neutral as consolidation from 1.6642 is extending. Further rally is expected as long as 1.6384 support holds. Corrective fall from 1.7062 should have completed with three waves down to 1.5998. Above 1.6642 will target 1.6742 resistance. Decisive break there will argue that larger up trend is going to resume through 1.7062 high.

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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 55 D EMA (now at 1.6264) holds.

Daily Pivots: (S1) 1.6540; (P) 1.6569; (R1) 1.6612; More…

Intraday bias in EUR/AUD remains neutral for consolidations below 1.6642 temporary top. Further rally is expected as long as 1.6384 support holds. Corrective fall from 1.7062 should have completed with three waves down to 1.5998. Above 1.6642 will target 1.6742 resistance. Decisive break there will argue that larger up trend is going to resume through 1.7062 high.

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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 55 D EMA (now at 1.6264) holds.

EUR/AUD’s rise from 1.5996 accelerated to as high as 1.6642 last week but retreated since then. Initial bias remains neutral this week for consolidations. Further rally is expected as long as 1.6384 support holds. Corrective fall from 1.7062 should have completed with three waves down to 1.5998. Above 1.6642 will target 1.6742 resistance. Decisive break there will argue that larger up trend is going to resume through 1.7062 high.

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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 55 D EMA (now at 1.6264) holds.

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) 1.6477; (P) 1.6560; (R1) 1.6672; More…

A temporary top should be in place at 1.6642 with current retreat. Intraday bias in EUR/AUD is turned neutral for consolidations. Outlook will stay bullish as long as 1.6384 support holds. Above 1.6642 will resume the rise from 1.5996 to retest 1.6742 resistance. Decisive break there will argue that larger up trend is ready to resume and target 1.7062 high 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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 55 D EMA (now at 1.6263) holds.

Daily Pivots: (S1) 1.6423; (P) 1.6450; (R1) 1.6498; More…

EUR/AUD’s rally from 1.5996 accelerates higher today and intraday bias stays on the upside for 1.6742 resistance. Decisive break there will argue that larger up trend is ready to resume and target 1.7062 high next. On the downside, below 1.6464 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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) and could have completed after hitting 38.2% retracement of 1.4281 to 1.7062 at 1.6000. On resumption next target will be 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. This will now remain the favored case as long as 55 D EMA (now at 1.6251) holds.

Daily Pivots: (S1) 1.6384; (P) 1.6407; (R1) 1.6428; More…

EUR/AUD’s correction from 1.0762 has possibly completed with three waves down to 1.5996, after hitting 1.6000 fibonacci support. Break of 1.6148 resistance affirms this case. Intraday bias stays on the upside for 1.6742 resistance next. On the downside, below 1.6384 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6742 resistance indicate that the up trend is ready to resume through 1.7062.

Daily Pivots: (S1) 1.6301; (P) 1.6353; (R1) 1.6448; More…

Intraday bias in EUR/AUD stays on the upside and outlook is unchanged Correction from 1.0762 has possibly completed with three waves down to 1.5996, after hitting 1.6000 fibonacci support. Firm break of 1.6148 resistance will solidify this bullish case and target 1.6742 resistance next. On the downside, though, break of 1.6282 resistance turned support will dampen this bullish view and turn intraday bias neutral first.

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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed, and the up trend is ready to resume through 1.7062.

Daily Pivots: (S1) 1.6250; (P) 1.6270; (R1) 1.6308; More…

Intraday bias in EUR/AUD is back on the upside as rebound from 1.5996 resumed after brief retreat. Current development suggest that 1.0762 has completed with three waves down to 1.6000 fibonacci support. Further rise should be seen to 1.6418 resistance first. Firm break there will solidify this bullish case and target 1.6742 resistance next. On the downside, though, break of 1.6185 support will dampen this bullish view and bring retest of 1.5996 instead.

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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed, and the up trend is ready to resume through 1.7062.

EUR/AUD’s rebound from 1.5996 extended higher last week and broke through 55 D EMA (now at 1.6216). The development is taken as the first sign that whole correction from 1.0762 has completed with three waves down to 1.6000 fibonacci support. Further rise is expected this week as long as 1.6171 minor support holds, to 1.6148 resistance. Firm break there will solidify this bullish case. Nevertheless, break of 1.6171 minor support will dampen this bullish view and bring retest of 1.5996 instead.

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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

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 1.5977) 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) 1.6195; (P) 1.6240; (R1) 1.6291; More…

EUR/AUD’s rebound from 1.5996 lost momentum after hitting 1.6282. Intraday bias is turned neutral first. Further rise is in favor as long as 1.6171 minor support holds. Correction from 1.7062 might have completed with three waves down to 1.5996, after hitting 1.6000 fibonacci support. Above 1.6282 will target 1.6418 resistance next. However, break of 1.6171 will dampen this bullish case and bring retest of 1.5996 instead.

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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6418 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6199; (P) 1.6232; (R1) 1.6289; More…

EUR/AUD’s break of 1.6211 support turned resistance indicates short term bottoming at 1.5996. More importantly, correction from 1.7062 might have completed with three waves down to 1.5996, after hitting 1.6000 fibonacci support. Intraday bias is back on the upside for 1.6418 resistance. Firm break there will strengthen this bullish case. On the downside, though, below 1.6171 minor support will turn intraday bias neutral first.

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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6418 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6129; (P) 1.6164; (R1) 1.6219; More…

EUR/AUD is staying below 1.6211 support turned resistance despite current strong rebound. Intraday bias remains neutral and further decline is still in favor. On the downside, break of 1.5996 will resume larger fall to 1.5846 support next. However, firm break of 1.6211 will argue that larger corrective fall might have completed, and turn bias back to the upside for 1.6418 resistance 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6418 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6071; (P) 1.6102; (R1) 1.6148; More…

EUR/AUD rebounded strongly as consolidation from 1.5996 extends. But outlook is unchanged with 1.6211 support turned resistance intact. Intraday bias stays neutral and further decline is expected. On the downside, break of 1.5996 will resume larger fall to 1.5846 support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6054; (P) 1.6072; (R1) 1.6096; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5996 continues. While another recovery cannot be ruled out, further decline is expected as long as 1.6211 resistance holds. Break of 1.5996 will resume larger fall to 1.5846 support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

EUR/AUD’s consolidation from 1.5996 continued last week and outlook is unchanged. Initial bias stays neutral this week first. While another recovery cannot be ruled out, further decline is expected as long as 1.6211 resistance holds. Break of 1.5996 will resume larger fall to 1.5846 support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

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 1.5970) 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) 1.6038; (P) 1.6062; (R1) 1.6101; More…

EUR/AUD recovered ahead of 1.5996 low as consolidations continued. Intraday bias remains neutral first. Also, outlook stays bearish as long as 1.6211 support turned resistance holds. On the downside, break of 1.5996 will target 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950. Firm break there will target 1.5846 key support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6037; (P) 1.6050; (R1) 1.6067; More…

EUR/AUD is staying in range above 1.5996 and intraday bias remains neutral. More consolidations could be seen but outlook will remain bearish as long as 1.6211 support turned resistance holds. On the downside, break of 1.5996 will target 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950. Firm break there will target 1.5846 key support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6024; (P) 1.6053; (R1) 1.6071; More…

Intraday bias in EUR/AUD remains neutral for the moment. Consolidation from 1.5996 could extend further. Outlook will remain bearish as long as 1.6211 support turned resistance holds. On the downside, break of 1.5996 will target 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950. Firm break there will target 1.5846 key support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.

Daily Pivots: (S1) 1.6032; (P) 1.6061; (R1) 1.6096; More…

EUR/AUD is still bounded in consolidation from 1.5996 an intraday bias remains neutral. Outlook will remain bearish as long as 1.6211 support turned resistance holds. On the downside, break of 1.5996 will target 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950. Firm break there will target 1.5846 key support 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) only. Strong support is still expected between 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.6148 resistance will argue that the correction has completed.