Daily Pivots: (S1) 1.4653; (P) 1.4701; (R1) 1.4754; More…

Intraday bias in EUR/AUD remains neutral for the moment. At this point, we’re still favoring the case that correction from 1.5226 has completed with three waves down to 1.4421 already. Hence, another rally is expected. Break of 1.4777 will turn bias to the upside for 1.5073 resistance first. Break there will indicate resumption of whole rise from 1.3624. However, break of 1.4221 will invalidate our view and extend the decline from 1.5226 to 61.8% retracement of 1.3624 to 1.5226 at 1.4236.

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 resume 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.

Daily Pivots: (S1) 1.6010; (P) 1.6053; (R1) 1.6109; More…

Intraday bias in EUR/AUD remains neutral for the moment. Further fall is expected as long as 1.6181 resistance holds. On the downside, below 1.5976 will target 1.5894/5905. Decisive break there will carry larger bearish implications. On the upside, though, break of 1.6181 will turn bias back to the upside for 1.6432 resistance instead.

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) 1.6130; (P) 1.6180; (R1) 1.6240; More….

EUR/AUD’s rally resumed after brief consolidate. Despite diminishing upside momentum as seen in 4 hour MACD, there is no sign of topping yet. Intraday bias is now on the upside for retesting 1.6357 high. At this point, we’d be cautious on topping around there to bring pull back. On the downside, break of 1.6024 support will now indicate short term topping and bring lengthier consolidation.

In the bigger picture, no change in the view that 1.6357 is a medium term top. But the strong rebound ahead of 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313) suggests price actions from 1.6357 are developing into sideway consolidation, rather than a deep correction. The range of 1.5271/6357 is likely set for the consolidation. And we don’t expect a break of the range any time soon. But decisive break of 1.6357 will resume the larger up trend from 1.3624 (2017 low) to 1.6587 (2015 high).

Daily Pivots: (S1) 1.6142; (P) 1.6196; (R1) 1.6255; More…

EUR/AUD dived to 1.6134 but quickly formed a temporary low there and recovered. Intraday bias is turned neutral first. Considering bearish divergence condition in D MACD, fall from 1.6785 might be correction to whole up trend form 1.4281. Deeper decline is in favor as long as 1.6354 support turned resistance holds. Below 1.6134 will target 1.5254/5976 support zone. Nevertheless, break of 1.6354 will revive near term bullishness and turn bias back to the upside for rebound.

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.

Daily Pivots: (S1) 1.6482; (P) 1.6578; (R1) 1.6652; More…

EUR/USD’s break of 1.6444 resistance turned support indicates short term topping at 1.6785. Intraday bias is back on the downside for pull back to 1.6219 support. Firm break there will indicate that larger correction is on the way. Nevertheless, strong rebound from 1.6219 will maintain near term bullishness for another rise through 1.6785 at a later stage.

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.

Daily Pivots: (S1) 1.5973; (P) 1.6014; (R1) 1.6085; More….

Intraday bias in EUR/AUD remains on the upside for further rally. Current should target 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. Break there will target 100% projection at 1.6444 next. On the downside, break of 1.5857 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

Daily Pivots: (S1) 1.6317; (P) 1.6352; (R1) 1.6388; More…

EUR/AUD dips slightly lower today but stays well above 1.6216 minor support. Intraday bias stays neutral for the moment. Considering bearish divergence condition in 4H MACD, firm break of 1.6216 should confirm short term topping, after rejection by 1.6389/6434 cluster resistance zone. Intraday bias will be back on the downside in this case, to 1.6033 support and possibly below. However, on the upside, decisive break of 1.6389/6434 cluster resistance zone will carry larger bullish implications.

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.

Daily Pivots: (S1) 1.6645; (P) 1.6735; (R1) 1.6799; More…

Range trading continues in EUR/AUD and intraday bias stays neutral. On the upside, above 1.6843 will resume the rebound from 1.6319. Firm break there will resume larger up trend. However, break of 1.6550 support will bring deeper fall back to 1.6319 support instead.

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. Sustained break of 1.7062 will pave the way to 61.8% retracement of 1.9799 (2020 high) to 1.4281 at 1.7691. In any case, outlook will stay bullish as long as 1.6319 support holds.

No change in EUR/AUD’s outlook as consolidation from 1.9799 is still extending. While further fall cannot be ruled out, downside should be contained by 61.8% retracement of 1.6085 to 1.9799 at 1.7504 to bring rebound. On the upside, break of 1.8747 minor resistance will turn bias to the upside for retesting 1.9799 high first.

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) 1.6222; (P) 1.6257; (R1) 1.6322; More…

Intraday bias in EUR/AUD remains neutral first as range trading continues. At this point, we’re still slightly favoring the bearish case that rebound from 1.5976 has completed at 1.6323 already. Thus, risk will stay on the downside as long as 1.6323 resistance holds. Break of 1.6148 will turn bias to the downside for 1.5976 support first. On the upside, break of 1.6323 will resume the rise from 1.5976 to 1.6432 resistance next.

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 1.6071) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.7544; (P) 1.7653; (R1) 1.7754; More…

EUR/AUD’s corrective fall from 1.9799 might still extend. But we’d expect downside to be contained by 61.8% retracement of 1.6085 to 1.9799 at 1.7504 to bring rebound. On the upside, break of 1.8124 minor resistance will turn bias to the upside for retesting 1.9799 high. However, sustained break of 1.7504 will pave the way to 1.6085/6593 support zone.

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) 1.6502; (P) 1.6565; (R1) 1.6684; More…

EUR/AUD surges to as high as 1.6663 as rise from 1.5962 resumed. Intraday bias stays on the upside for 100% projection of 1.5962 to 1.6593 from 1.6085 at 1.6716, and then 1.6785 high. On the downside, below 1.6511 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, EUR/AUD is still bounded in established range of 1.5905/6786. Continuos support from 55 week EMA (now at 1.6122) is seen as an indication of medium term bullishness. For now, larger up trend from 1.1602 (2012 low) is still in favor to continue as long as 1.5962 support holds. Break of 1.6786 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488.

Daily Pivots: (S1) 1.4875; (P) 1.4918; (R1) 1.4989; More…

EUR/AUD’s rise from 1.4421 resumed by breaking 1.4964 and reaches as high as 1.5010 so far. Intraday bias is back on the upside for 1.5073 resistance next. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Decisive 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. Near term outlook will remain bullish as long as 1.4824 support holds, even in case of retreat.

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 resume 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 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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Daily Pivots: (S1) 1.6218; (P) 1.6332; (R1) 1.6399; More…

Intraday bias in EUR/AUD remains neutral and outlook is unchanged. Decisive break of 1.6434 resistance will carry larger bullish implications. Nevertheless, considering bearish divergence condition in 4H MACD, firm break of 1.6216 should confirm short term topping, after rejection by 1.6389/6434 cluster resistance zone. Intraday bias will be back on the downside in this case, to 1.6033 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.

Daily Pivots: (S1) 1.4755; (P) 1.4816; (R1) 1.4867; More…

Intraday bias in EUR/AUD is turned neutral with a temporary top formed at 1.4909. Some consolidations would be seen first. But downside of retreat is expected to be contained by 1.4442 support and bring another rally. Break of 1.4909 will extend whole rise from 1.3624 to next medium term fibonacci level at 1.5455.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed after defending 1.3671 key support. Rise from 1.3642 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455 and above. In any case, outlook will now stay cautiously bullish as long as 1.4309 resistance turned support holds.

Daily Pivots: (S1) 1.6056; (P) 1.6131; (R1) 1.6207; More….

Intraday bias in EUR/AUD remains neutral for the moment. Recent sideway trading might extend further. But after all, as long as 1.5984 support holds, further rise is expected. On the upside, break of 1.6357 will resume larger up trend to 1.6587 key resistance next. However, break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal.

EUR/AUD dropped further to 1.4508 last week but recovered since then. A short term bottom is probably in place on bullish convergence condition in 4 hour MACD. Initial bias is mildly on the upside for recovery. But upside should be limited below 1.4910 resistance to bring another fall. Break of 1.4508 will target a test on 1.4318 low.

In the bigger picture, rejection by 1.5354 support turned resistance, as well as 55 week EMA (now at 1.5378), maintain medium term bearishness. That is, larger down trend from 1.9799 is not completed yet. 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.

In the longer term picture, fall from 1.9799 (2020 high) is seen as the third leg of the pattern from 2.1127 (2008 high). Deeper fall should be seen to 1.3624 support. Decisive break there would pave the way back to 1.1602 (2012 low). This will remain the favored case as long as 55 month EMA (now at 1.5656) holds.

Daily Pivots: (S1) 1.6156; (P) 1.6235; (R1) 1.6327; More…

Immediate focus is now on 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302 . Decisive break there will resume larger rally from 1.4281 to 1.6389 fibonacci level and then 1.6434 resistance. However, firm break of 1.6053 support will indicate rejection by 1.6302 and turn bias back to the downside for 1.5848 support.

In the bigger picture, the strong support from 55 week EMA (now at 1.5404) is raising the chance of bullish trend reversal. Focus is now 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 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 stayed in consolidation below 1.5816 last week and outlook is unchanged. Initial bias remains neutral this week first. Also, near term outlook stays cautiously bullish as long as 1.5606 support holds. 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 1.5501) 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.

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.