Daily Pivots: (S1) 1.6440; (P) 1.6473; (R1) 1.6499; More…

Intraday bias in EUR/AUD is back on the downside as fall from 1.7180 resumes today. Sustained trading below 55 D EMA (now at 1.6435) will argue that rise from 1.5996 has completed at 1.7180. Deeper fall would then be seen back to this support. ON the upside, though, above 1.6580 resistance will turn bias back to the upside for stronger rebound.

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. However, sustained break of 55 D EMA will dampen this bullish view and extend medium term range trading.

Daily Pivots: (S1) 1.5744; (P) 1.5812; (R1) 1.5863; More…

Intraday bias in EUR/AUD remains neutral first. Consolidation from 1.5721 might extend further with another rise. But upside should be limited by 1.6122 resistance to bring fall resumption eventually. On the downside, decisive break of 1.5271 will resume the fall from 1.6765 and target 1.5346 support next.

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) 1.5881; (P) 1.5924; (R1) 1.5956; More….

Intraday bias in EUR/AUD remains on the downside for 1.5773 support and possibly below. Still, price actions from 1.6189 are seen as a consolidation pattern. Hence, downside should be contained above 1.5621 to bring rise resumption. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 and then 1.6189 high.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

Daily Pivots: (S1) 1.6240; (P) 1.6320; (R1) 1.6379; More…

Intraday bias in EUR/AUD remains neutral for the moment. Choppy rise from 1.5905 should still extend as long as 1.6203 support holds. On the upside, break of 1.6432 will target 1.6680/6786 resistance zone next. On the downside, however, break of 1.6203 support will turn bias back to the downside for 1.6074 support.

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 1.6038) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5390; (P) 1.5487; (R1) 1.5539; More…

EUR/AUD’s decline continues today and hits as low as 1.5382 so far. Intraday bias stays on the downside for 1.5250/5354 support zone. Decisive break there will resume larger down trend from 1.9799. Next near term target will be 100% projection of 1.6343 to 1.5354 from 1.6223 at 1.5143. On the upside, break of 1.5679 resistance is needed to indicate short term bottoming. Otherwise, outlook stays bearish in case of recovery.

In the bigger picture, price actions from 1.5250 low are seen as a corrective pattern. Further extension could be seen and another rise cannot be ruled out. But strong resistance should be seen at 38.2% retracement of 1.9799 to 1.5250 at 1.6988. Larger down trend from 1.9799 (2020 high) is in favor to extend through 1.5250 at a later stage. Next target is 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733

EUR/AUD’s decline from 1.6434 short term top extended lower last week. Initial bias stays on the downside this week with focus on 1.5898 support. Sustained break there will indicate that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for retesting 1.5250 low. On the upside, break of 1.6116 resistance will revive near term bullishness and bring retest of 1.6434 high 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.

In the longer term picture, rise from 1.1602 (2012 low) should have already completed with three waves up to 1.9799 (2020 high). Fall from there is seen as a medium term to long term down leg as a long term down trend, or a sideway pattern. We’ll assess the odds again at a later stage.

EUR/AUD’s fall from 1.6434 continued last week and reached as high as 1.5356. Initial bias stays on the downside this week for 1.5250 low. Sustained break there will confirm resumption of larger down trend. Next target is 1.4733 long term fibonacci support. On the upside, break of 1.5523 minor resistance will turn bias back to the upside for stronger rebound first.

In the bigger picture, the down trend from 1.9799 (2020 high) is in progress. Firm break of 1.5250 low will confirm resumption nand target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. Sustained break there could bring more downside acceleration to 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623. In any case, break of 1.6434 resistance is needed to signal medium term bottoming, or outlook will stay bearish.

In the longer term picture, fall from 1.9799 (2020 high) is seen as a long term down trend. Sustained break of 61.8 retracement of 1.1602 to 1.9799 at 1.4733 will extend the decline to 1.3624 long term support and possibly below.

Daily Pivots: (S1) 1.6007; (P) 1.6046; (R1) 1.6093; More…

Intraday bias in EUR/AUD remains mildly on the upside for retesting 1.6182 high. Firm break there will resume the choppy rise from 1.5250 towards 1.6827 resistance next. On the downside, below 1.6037 minor support will turn intraday bias remains neutral first. Further sustained break of 55 day EMA will argue that choppy corrective rebound from 1.5250 has completed. Deeper fall would be seen to 1.5614 structural support for confirmation.

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 would 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 1.5614 support will indicate that the rebound has completed and bring retest of 1.5250 low.

Daily Pivots: (S1) 1.6074; (P) 1.6096; (R1) 1.6129; More…

Intraday bias in EUR/AUD remains neutral for some consolidations above 1.5976 temporary low. Further decline 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.

EUR/AUD’s rise from 1.3624 accelerated to as high as 1.4909 last week. The strong break of 1.4721 resistance confirmed our view of trend reversal. That is the whole decline form 1.6587 has completed at 1.3624 after defending 1.3671 key support level. Further rally is now expected to next fibonacci level at 1.5455.

Initial bias in EUR/AUD remains on the upside this week. Current rally should now target next medium term fibonacci level at 1.5455. On the downside, touching 1.4649 minor support will turn bias neutral and bring consolidation. But retreat should be contained by 1.4442 support and bring rise resumption.

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.

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) 1.6054; (P) 1.6111; (R1) 1.6151; More…

Intraday bias in EUR/AUD remains mildly on the upside. Rebound from 1.5905 short term bottom would extend to 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 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 1.6008) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

EUR/AUD rose further to 1.5416 last week but failed to sustain above 1.5396 resistance and retreated. Initial bias stays neutral this week first. Further rally is in favor as long as 1.5047 support holds. Firm break of 1.5416 will carry larger bullish implication. Next target is 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. However, break of 1.5047 will turn bias back to the downside for 55 day EMA (now at 1.4867).

In the bigger picture, current development raises the chance of medium term bottoming at at 1.4281, on bullish convergence condition in daily MACD. Firm break of 1.5396 will bring stronger rally back to 1.6434 key resistance next. Nevertheless, rejection by 1.5396 will maintain medium term bearishness for another fall through 1.4281 at a later stage.

In the longer term picture, as long as 55 month EMA (now at 1.5599) holds, the down trend from 1.9799 (2020 high) could still extend to 1.3624 long term support, and below. However, sustained trading above 55 month EMA will raise the chance that this down trend was over. Further break of 1.6434 resistance should confirm medium term bullish reversal.

Daily Pivots: (S1) 1.6386; (P) 1.6431; (R1) 1.6463; More…

EUR/AUD is still bounded in consolidation from 1.6033 and intraday bias remains neutral first. Outlook stays bearish with 1.6772 resistance intact and further decline is expected. On the downside, firm break of 1.6033 will resume the fall 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.

Daily Pivots: (S1) 1.6149; (P) 1.6201; (R1) 1.6265; More…

Intraday bias in EUR/AUD remains on the upside at this point. Current rise from 1.5683 in in progress for retesting 1.6765 high. On the downside, below 1.6127 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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, with bearish divergence condition in weekly MACD, and turn outlook bearish.

Daily Pivots: (S1) 1.5472; (P) 1.5589; (R1) 1.5764; More…

EUR/AUD edged higher to 1.5704 but quickly retreated. Intraday bias stays neutral first. Break of 1.5704 will resume the rally from 1.4281 to 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. However, on the downside, break of 1.5412 minor support will turn bias to the downside for deeper pull back.

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) 1.5985; (P) 1.6011; (R1) 1.6038; More…

EUR/AUD is staying in consolidation from 1.5970 temporary low. Intraday bias remains neutral for the moment. On the downside, below 1.5970 will extend the decline from 1.6314 to 1.5894/5906 key support zone. On the upside, above 1.6071 will turn bias back to the upside for recovery.

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 1.6081) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5900; (P) 1.5978; (R1) 1.6023; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.6128 is extending. Further rally is expected as long as 1.5773 support holds. On the upside, break of 1.6128 will resume the whole rise from 1.5250, which correctives the down trend from 1.9799, to 1.6827 resistance next.

In the bigger picture, outlook stays bearish with 1.6033 support turned resistance intact for now. Fall from 1.9799, as a correction to to long term up trend from 1.1602 (2012 low) is still in favor to resume through 1.5250 later. However, firm break of 1.6033 will argue that such decline has completed. Stronger rebound would then be seen 38.2% retracement of 1.9799 to 1.5250 at 1.6988.

Daily Pivots: (S1) 1.4714; (P) 1.4758; (R1) 1.4785; More…

EUR/AUD failed to sustain above 4 hour 55 EMA and retreated. As it’s staying above 1.4625 temporary low, intraday bias remains neutral first. On the upside, above 1.4813 will extend the rebound from 1.4625 to retest 1.5226 high next. However, sustained break of 38.2% retracement of 1.3624 to 1.5226 at 1.4614 will bring deep fall to 61.8% retracement at 1.4236 and possibly below.

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 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

EUR/AUD’s consolidation from 1.6786 extended last week outlook is unchanged. In case of another fall, downside should be contained by 1.6247 resistance turned support to bring rise resumption. On the upside, above 1.6594 minor resistance will turn bias back to the upside for retesting 1.6786 resistance first. Break will resume larger up trend. However, firm break of 1.6247 will turn focus back to 1.5894 support instead.

In the bigger picture, outlook remains bullish as up trend from 1.1602 (2012 low) is resuming. Strong support from 55 week EMA indicates medium term bullishness. Next upside target is 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. In any case, break of 1.5894 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain 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 for 61.8% retracement of 2.1127 to 1.1602 at 1.7488. This will remain the favored case as long as 1.5346 remains intact.

Daily Pivots: (S1) 1.5765; (P) 1.5816; (R1) 1.5850; More…

Intraday bias in EUR/AUD is turned neutral as it lost upside momentum again. On the upside, sustained trading above 38.2% retracement of 1.6827 to 1.5250 at 1.5852 will bring further rise to 1.6033 key support turned resistance. On the downside, though, break of 1.5657 will turn bias back to the downside for 1.5418 support first.

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. However, firm break of 1.6033 will argue that such decline has completed, and turn focus to 1.6827 structural resistance for confirmation.