Daily Pivots: (S1) 1.6346; (P) 1.6403; (R1) 1.6510; More…

While EUR/AUD’s rebound from 1.6256 extended, upside is capped below 1.6580 resistance so far. Intraday bias remains neutral and fall from 1.7180 is still in favor to continue. On the downside, break of 1.6256 support will target 1.5996 key support level next. However, decisive break of 1.6580 will turn bias back to the upside for stronger rebound.

In the bigger picture, outlook is mixed up by the deeper than expected fall from 1.7180. Yet as long as 1.5996 support holds, up trend from 1.4281 (2022 low) is still expected to resume at a later stage. Firm break of 1.7180 will pave the way to 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715.

Daily Pivots: (S1) 1.6097; (P) 1.6137; (R1) 1.6159; More….

EUR/AUD’s rebound from 1.6051 resumes by taking out 1.6175 minor resistance. Intraday bias is back on the upside for 1.6353 high. The correction from 1.6353 has likely completed at 1.6051 already. And larger medium up trend might be resuming. Break of 1.6353 will confirm tis bullish case and target 1.6587 key resistance next.

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 1.5886 resistance turned support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.

Daily Pivots: (S1) 1.5840; (P) 1.5896; (R1) 1.5962; More…

EUR/AUD’s break of 1.5959 indicates resumption of rise from 1.5683. Intraday bias is turned back to the upside for 1.6122 resistance. as noted before, correction from 1.6765 should have completed with three waves down to 1.5683. Break of 1.6122 should confirm and bring retest of 1.6765 high next. Near term outlook will now remain cautiously bullish as long as 1.5806 support holds, 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.

Daily Pivots: (S1) 1.5883; (P) 1.5943; (R1) 1.6004; More…

Intraday bias in EUR/AUD remains neutral first, and focus in on 1.6101 support with today’s rebound. Decisive break there will confirm short bottoming at 1.5846. Correction from 1.6785 could also have completed with three waves down, after hitting 100% projection of 1.6785 to 1.6134 from 1.6513 at 1.5862. Intraday bias will be turned back to the upside for 1.6513 resistance next.

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) 1.6175; (P) 1.6240; (R1) 1.6291; More…

Intraday bias in EUR/AUD remains neutral at this point as consolidation from 1.6144 might extend. 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.

Daily Pivots: (S1) 1.5447; (P) 1.5552; (R1) 1.5616; More…

EUR/AUD’s break of 1.5526 suggests that rebound from 1.5268 has completed at 1.5672 already. Intraday bias is back on the downside for 1.5355 support first, and then retesting 1.5250 low. On the upside, above 1.5672 will bring another rebound. But upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852 to bring larger down trend resumption.

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) 1.5618; (P) 1.5652; (R1) 1.5705; More…

EUR/AUD recovered just ahead of 1.5591 support and intraday bias stays neutral for more consolidations. Upside of recovery should be limited by 1.5830 resistance to bring another decline. Break of 1.5591 will target 161.8% projection of 1.6827 to 1.6144 from 1.6420 at 1.5315 next. Though, break of 1.5830 will indicate short term bottoming and turn bias back to the upside for stronger rebound, towards channel resistance (now at 1.5957).

In the bigger picture, current development suggests that price actions from 1.9799 is 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 1.6827 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.5816; (P) 1.5876; (R1) 1.5982; More….

Intraday bias in EUR/AUD remains on the upside for 1.5976 resistance first. Decisive break will resume the up trend from 1.3624 and target 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. On the downside, below 1.5784 minor support will delay the bullish case and turn intraday bias neutral first.

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 1.5153 support is needed to indicate medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

Daily Pivots: (S1) 1.5453; (P) 1.5489; (R1) 1.5536; More…

EUR/AUD’s corrective pattern from 1.5704 is still extending and intraday bias remains neutral. In case of another fall, downside should be contained by 55 day EMA (now at 1.5298) to bring rebound. On the upside, decisive break of 1.5704 will resume larger rise from 1.4281. However, sustained trading below 55 day EMA will bring deeper correction towards 1.4965 resistance turned support.

In the bigger picture, a medium term bottom should be in place at 1.4281, on bullish convergence condition in daily MACD. Further rise would be seen back to 1.6434 key resistance next. Break of 1.4965 resistance turned support is needed to indicate reversal. Otherwise, further rally will remain in favor.

Daily Pivots: (S1) 1.6164; (P) 1.6209; (R1) 1.6235; More…

EUR/AUD’s correction from 1.6448 is still in progress and outlook remains unchanged. While deeper decline cannot be ruled out, downside should be contained above 1.6052 support to bring rise resumption. On the upside, break of 1.6448 will resume the rally from 1.5683 and target 1.6765 high. However, firm break of 1.6052 support will near term outlook bearish for 1.5683 support again.

In the bigger picture, as long as 1.5346 support holds, outlook will still remain bullish. Up trend 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 and turn outlook bearish.

Daily Pivots: (S1) 1.5814; (P) 1.5875; (R1) 1.5986; More….

At this point, intraday bias in EUR/AUD remains on the upside with 1.5836 minor support intact. Current rally should target 61.8% projection of 1.5271 to 1.5886 from 1.5601 at 1.5981 first. Break will target 100% projection at 1.6216, which is close to 1.6189 high. On the downside, below 1.5836 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, the rebound from 1.5271 was somewhat weaker than expected. EUR/AUD. But there is no confirmation of completion. Break of 1.5888 will likely target 1.6189 and above to resume the medium term rally from 1.3624 (2017 low). This will be the favored case as long as 1.5271 support holds.

Daily Pivots: (S1) 1.6235; (P) 1.6283; (R1) 1.6348; More…

Intraday bias in EUR/AUD remains neutral for the moment, and some more consolidations could be seen above 1.6216. 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) 1.6104; (P) 1.6128; (R1) 1.6165; More…

EUR/AUD’s rise from 1.5907 continues today and intraday bias is staying on the upside. Further rise would be seen to retest 1.6434 resistance first. With 1.5898 support intact, larger rise from 1.5250 is still in progress, and break of 1.6434 will confirm resumption, for 1.6988 fibonacci level. On the downside, break of 1.6059 minor support will turn bias back to the downside for 1.5898 structural support instead.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise could be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5898 support will indicate that the rebound has completed. Larger down trend from 1.9799 might be ready to resume through 1.5250 low.

Daily Pivots: (S1) 1.6531; (P) 1.6572; (R1) 1.6613; More…

Intraday bias in EUR/AUD remains neutral and outlook stays bullish with 1.6474 support intact. On the upside, above 1.6798 minor resistance will bring retest of 1.7180 resistance first. Firm break there will resume larger up trend to 1.7715 fibonacci projection level next. However, firm break of 1.6474 will dampen the bullish view and bring deeper pullback towards 1.5996 support.

In the bigger picture, corrective fall from 1.7062 medium term top should have completed at 1.5996. Larger up trend from 1.4281 (2022 low) is resuming. Next target is 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 1.6474 support holds.

Daily Pivots: (S1) 1.6247; (P) 1.6290; (R1) 1.6365; More…

Intraday bias in EUR/AUD remains neutral as it’s still bounded in consolidation from 1.6134. Further decline is expected with 1.634 minor resistance intact. Considering bearish divergence condition in D MACD, fall from 1.6785 might be a correction to whole up trend from 1.4281. Break of 1.6134 will target 38.2 retracement of 1.4281 to 1.6785 at 1.5828, which is inside 1.5254/5976 support zone. Nevertheless, sustained break of 1.6354 minor resistance will turn bias back to the upside for retesting 1.6785 high instead.

In the bigger picture, whole down trend from 1.9799 (2020 high) should have 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) 1.6042; (P) 1.6094; (R1) 1.6129; More…

EUR/AUD’s break of 1.6178 resistance suggests short term bottoming at 1.6006, after failing to sustain below 1.6033 low. Intraday bias is turned back to the upside for 1.6420 resistance first. Firm break there will extend the consolidation from 1.6033 with another rising leg, back to 1.6827 resistance. on the downside, sustained break of 1.6033 low will resume whole down trend from 1.9799.

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) 1.5520; (P) 1.5569; (R1) 1.5632; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, below 1.5414 will extend the fall form 1.5976 to 38.2% retracement of 1.4281 to 1.5976 at 1.5329. Nevertheless, on the upside, above 1.5739 minor resistance will suggest that the pull back has finished, and bring retest of 1.5976 high.

In the bigger picture, strong support from 55 week EMA affirms underlying bullishness. As long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. Decisive break there should confirm medium term bullish trend reversal.

Daily Pivots: (S1) 1.5752; (P) 1.5787; (R1) 1.5834; More….

EUR/AUD is still bounded in the sideway consolidation pattern from 1.5886 and intraday bias stays neutral. With 1.5651 minor support intact, further rise is expected in the cross. On the upside, break of 1.5888 resistance will extend rise from 1.5271 towards 1.6139/89 resistance zone. However, break of 1.5651 cluster support (38.2% retracement of 1.5271 to 1.5886 at 1.5651) will indicate near term reversal and turn bias back to the downside for 1.5271 low.

In the bigger picture, current development suggests that fall from 1.6189 is a corrective move and has completed at 1.5271 already. Key support levels of 1.5153 and 38.2% retracement of 1.3624 to 1.6189 at 1.5209 were defended. And medium term rise from 1.3624 (2017 low) is still in progress. Break of 1.6189 will target 1.6587 key resistance (2015 high).

Daily Pivots: (S1) 1.4528; (P) 1.4617; (R1) 1.4764; More…

Intraday bias in EUR/AUD is neutral first. Another fall is in favor with 1.4804 resistance intact. Firm break of 1.4318 low will will resume larger down trend to medium term projection level at 1.3623. However, break of 1.4804 will delay the bearish case and turn bias to the upside for stronger rebound first.

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.

Daily Pivots: (S1) 1.4961; (P) 1.4999; (R1) 1.5035; More….

No change in EUR/AUD’s outlook. Deeper decline is expected as long as minor resistance holds. Consolidation pattern from 1.5226 is still unfolding with fall from 1.5241 as the third leg. Break of 1.4945 will affirm this case and send EUR/AUD through 1.4791 to 1.4421 support cluster support (50% retracement of 1.3624 to 1.5226 at 1.4425). We’d expect strong support from there to bring rebound. On the upside, though, above 1.5101 will turn focus back to 1.5241 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.