EUR/AUD gyrated in range of 1.5721/6122 last week and outlook is unchanged. Initial bias remains neutral this week first. Price actions from 1.7521 are seen as a consolidation pattern and thus, fall from 1.6765 is in favor to resume later. On the downside, break of 1.5721 low will confirm this case and target 1.5346 support next. On the upside, though, break of 1.6122 will extend the pattern from 1.5721 with another rise.

In the bigger picture, as long as 1.5346 support holds, outlook will 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.

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. Firm break there will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. This will remain the favored case as long as 1.5346 remains intact.

Daily Pivots: (S1) 1.5971; (P) 1.6050; (R1) 1.6193; More…

EUR/AUD rebounded strongly after hitting 1.5905, ahead of 1.5894 key support. Intraday bias is turned back to the upside for 1.6308 support turned resistance first. Firm break there should confirm completion of whole fall from 1.6789 and target this resistance again. For now, in case of another decline, we’d continue to expect strong support from 1.5894 to contain downside to bring rebound. However, sustained break will carry larger bearish implications and target 1.5683 support next.

In the bigger picture, as long as 1.5894 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 1.6005) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.6088; (P) 1.6137; (R1) 1.6215; More…

Intraday bias in EUR/AUD stays on the upside at this point. Corrective fall from 1.6785 should have completed with three waves down to 1.5846. Further rise should be seen to 1.6513 resistance next. On the downside, though, break of 1.6057 minor support will mix up the outlook and turn intraday bias neutral first.

In the bigger picture, price actions from 1.6785 are seen as a correction to up trend from 1.4281 (2022 low) only. Strong support should be seen around 38.2% retracement of 1.4281 to 1.6785 at 1.5828 to complete the first leg and bring rebound. However, sustained trading below 1.5828 will raise the chance of trend reversal and target 61.8% retracement at 1.5238.

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.

EUR/AUD’s rally and break of 1.5019 last week suggests that rebound from 1.4421 has resumed. More importantly, it revived the case that correction from 1.5226 has completed with three waves down to 1.4421. Initial bias is back on the upside this week for 1.5073 resistance first. Break there will affirm the case that whole rebound from 1.3624 is resuming and target 1.5226 high. On the downside, below 1.4882 minor support will turn intraday bias neutral first. But outlook will remain cautiously bullish as long as 1.4732 support holds.

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 extend 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, break of 1.4421 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) 1.5409; (P) 1.5488; (R1) 1.5540; 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.

Daily Pivots: (S1) 1.5789; (P) 1.5854; (R1) 1.5892; More….

EUR/AUD gyrated lower but stays above 1.5721 low. Intraday bias remains neutral and outlook is unchanged. On the upside, break of 1.6060 resistance should confirm that decline from 1.6765 has completed. Further rally should then be seen to retest 1.6765 high. On the downside, however, break of 1.5721 will extend the decline to 1.5346 support instead.

In the bigger picture, as long as 1.5346 support holds, outlook will 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) 1.4812; (P) 1.4881; (R1) 1.4988; More…

Intraday bias in EUR/AUD remains on the upside for the moment. Outlook is unchanged that whole correction from 1.6587 has completed at 1.3624 already after defending 1.3671 key support level. Further rise should be seen to 1.5094 resistance first. Break there will target next medium term fibonacci level at 1.5455. On the downside, break of 1.4669 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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.

EUR/;AUD’s strong rebound last week suggests short term bottoming at 1.6538, on bullish convergence condition in 4 hour MACD. Strong support was seen from 1.6597 key support as well as 55 week EMA. Initial bias stays on the upside this week for 1.7321 resistance first. Break will confirm this case and target 38.2% retracement of 1.9799 to 1.6538 at 1.7748 next. For now, risk will stay on the upside as long as 1.6538 holds.

In the bigger picture, while the pull back from 1.9799 is deep, there is no clear sign of trend reversal yet. EUR/AUD is still holding on to 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668. Larger rise from 1.1602 (2012 low) is in progress and would resume at a later stage. However, sustained break of 1.6597 suggest bearish reversal.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress, with 2.1127 (2008 high) as next target. However, sustained break of 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668, will argue that such rally is completed. Outlook will then be turned bearish for 61.8% retracement at 1.4733.

Daily Pivots: (S1) 1.4913; (P) 1.4966; (R1) 1.5000; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5074 continues. Another fall cannot be ruled out but downside should be contained above 1.4669 support and bring rise resumption. We’re holding on to the bullish view that the medium term trend has reversed. Break of 1.5094 resistance will extend the rally from 1.3624 to next medium term fibonacci level at 1.5455. However, considering bearish divergence condition in 4 hour MACD, break of 1.4669 will confirm short term topping and bring deeper pull back, possibly to 55 day EMA (now at 1.4469).

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 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) 1.4691; (P) 1.4801; (R1) 1.4858; More…

EUR/AUD’s fall from 1.5396 resumes and hits as low as 1.4686 so far. Corrective rise form 1.4318 should have completed at 1.5396, after rejection by 1.5354 support turned resistance. Intraday bias is back on the downside for retesting 1.418 low. On the upside, above 1.4910 minor resistance will turn intraday bias neutral first.

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.

Daily Pivots: (S1) 1.4727; (P) 1.4807; (R1) 1.4860; More…

EUR/AUD’s pull back from 1.5226 extended lower and broke 38.2% retracement of 1.3980 to 1.5226 at 1.4750. But at this point, we’d still expect strong support from 1.4669, close to 55 day EMA at 1.4685, to contain downside and bring rebound. Above 1.4894 minor resistance will turn bias back to the upside for retesting 1.5226 high. However, firm break of 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 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. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

EUR/AUD’s rally from 1.5846 continued last week and outlook is unchanged. Corrective fall from 1.6785 should have completed with three waves down to 1.5846. Initial bias remains on the upside this week for 1.6513 resistance. Firm break there will confirm this case and target 1.6785 high next. On the downside, though, break of 1.6142 minor support will mix up the outlook and turn intraday bias neutral first.

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 rally resumption. 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.

Daily Pivots: (S1) 1.4997; (P) 1.5027; (R1) 1.5081; More…

Intraday bias in EUR/AUD remains neutral and risk stays on the downside with 1.5227 resistance intact. Corrective rebound from 1.4318 could have completed with three waves up to 1.5277 already. Below 1.4885 will target 1.4597 support first. Break there will bring retest of 1.4318 low next.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend form 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) 1.4134; (P) 1.4179; (R1) 1.4213; More…

Intraday bias in EUR/AUD remains neutral at this point. Price action from 1.4025 are seen as a corrective pattern and thus maintain near term bearishness. Below 1.4025 will resume the larger fall from 1.6587 to key support level at 1.3671. We’d expect downside to be contained there to bring reversal. Meanwhile, above 1.4251 minor resistance will turn focus back to 1.4721 resistance.

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 1.4721 resistance will be the first sign of resumption of up trend from 1.1602 and target retesting of 1.6587 high first.

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Daily Pivots: (S1) 1.4844; (P) 1.4924; (R1) 1.5005; More…

Intraday bias in EUR/AUD stays mildly on the upside for the moment. Current rebound form 1.4281 should target 61.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5139 and then 100% projection at 1.5400. On the downside, break of 1.4716 support is needed to indicate completion of the rebound. Otherwise, further rise will remain in favor in case of retreat.

In the bigger picture, down trend from 1.9799 is still in progress. 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.

EUR/AUD stayed in consolidation in range of 1.6348/6671 last week and outlook is unchanged. Initial bias stays neutral this week first. 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, break of 1.6438 will bring deeper fall back to 1.6127 support 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). 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.

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 1.5905) 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) 1.7592; (P) 1.7818; (R1) 1.7955; More…

Intraday bias in EUR/AUD stays on the downside as correction from 1.9799 is extending. 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) 1.6362; (P) 1.6441; (R1) 1.6493; More…

No change in EUR/AUD as consolidation from 1.6033 is still extending. Overall, further decline is in favor 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.

EUR/AUD surged to as high as 1.9799 last week, then formed a short term top there and treated. Initial bias stays neutral this week for more consolidations. 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 1.9799 will resume larger up trend.

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.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress next target would be the resistance zone between 2.1127 (2008 high) and 161.8% projection of 1.1602 to 1.6597 from 1.3524 at 2.1706.