Daily Pivots: (S1) 1.6003; (P) 1.6030; (R1) 1.6067; More….

EUR/AUD’s fall from 1.6139 is extending after brief consolidation. Intraday bias stays on the downside. Such decline is viewed as the third leg of the consolidation pattern from 1.6189. Further fall should be seen to 1.5773 support, or below. But downside should be contained above 1.5621 to bring rise resumption. On the upside, above 1.6055 minor resistance will turn bias to the upside for 1.6189 high again.

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) 1.5930; (P) 1.5966; (R1) 1.6003; More….

Intraday bias in EUR/AUD remains neutral as consolidation from 1.6060 temporary top is extending. At this point, we’re favoring the case that decline from 1.6765 has completed at 1.5721 already, on bullish convergence condition in 4 hour MACD. Risk will stay on the upside s long as 1.5721 support holds. On the upside, break of 1.6060 should confirm this bullish view and target a test on 1.6765 high. On the downside, 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) 1.4514; (P) 1.4562; (R1) 1.4625; More…

Intraday bias in EUR/AUD remains neutral for the moment. But outlook will remain bearish as long as 1.4940 resistance holds. On the downside, break of 1.4318 will resume larger down trend to 1.3624 long term support next. On the upside, however, firm break of 1.4940 will indicate short term bottoming and turn bias back to the upside for 1.5327 resistance instead.

In the bigger picture, fall from 1.9799 is seen as a long term impulsive move. 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). Some support could be seen there to bring interim rebound. But overall, break of 1.5354 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

Daily Pivots: (S1) 1.5727; (P) 1.5787; (R1) 1.5859; More…

Range trading continuously EUR/AUD and intraday bias remains neutral. On the upside break of 1.5944 will resume the rise from 1.5559 to 1.6168 first. On the downside, break of 1.5559 will resume the fall from 1.6168 to retest 1.5250/5354 support zone.

In the bigger picture, rise from 1.5354 is seen as the third leg of the corrective pattern from 1.5250 low. Further rise cannot be ruled out, but even in that case, strong resistance should be seen at 38.2% retracement of 1.9799 to 1.5250 at 1.6988. Larger down trend from 1.9799 is in favor to extend through 1.5250 at a later stage.

Daily Pivots: (S1) 1.5568; (P) 1.5639; (R1) 1.5694; More….

Intraday bias in EURAUD remains on the downside for retesting 1.5519 low. Firm break there will resume whole fall from 1.6357 to 1.5271/5313 cluster support zone next. In case of another rise as consolidation from 1.5519 extends, upside should be limited by 38.2% retracement of 1.6357 to 1.5519 at 1.5839 to bring fall resumption eventually.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.

Daily Pivots: (S1) 1.4964; (P) 1.5006; (R1) 1.5062; More….

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5173 is still in progress. On the upside, break of 1.5173/5226 resistance zone will finally resume larger rise from 1.3624. In that case, EUR/AUD will target 1.5644 resistance first. On the downside, break of 1.4791 support will turn bias to the downside and extend the fall from 1.5173 to retest 1.4421 support.

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. 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.

Daily Pivots: (S1) 1.5350; (P) 1.5387; (R1) 1.5434; More….

EUR/AUD lost some upside momentum as seen in 4 hour MACD. But we’re still expecting further rally ahead. A short term bottom was formed at 1.5153 on bullish convergence condition in 4 hour MACD. Further rise would be seen back to retest 1.5770 high. On the downside, break of 1.5153 will resume the fall from 1.5770 to 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950).

In the bigger picture, decline from 1.5770 just breached 1.5226 key support briefly and recovered. The development is reviving the bullish case that rise from 1.3624 is still in progress. But considering bearish divergence condition in daily MACD, we’d prefer to see firm break of 1.5770 resistance to confirm. On the downside, sustained trading below 55 week EMA (now at 1.4950) will likely bring retest of 1.3624 support. Overall, there is still prospect of another medium term rally as long as 61.8% retracement of 1.1602 to 1.6587 at 1.3506 holds.

Daily Pivots: (S1) 1.5958; (P) 1.6040; (R1) 1.6147; More…

Intraday bias in EUR/AUD remains on the upside at this point. Rise from 1.5250 is at least correcting the whole fall from 1.9799. Further rise should be seen to 1.6827 resistance next. On the downside, below 1.5976 minor support will turn intraday bias neutral first. But further rise is expected as long as 1.5773 support holds, in case of retreat.

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) 1.5957; (P) 1.5999; (R1) 1.6024; More…

EUR/AUD is staying in consolidation from 1.5963 and intraday bias remains neutral first. Further fall is expected with 1.6071 minor resistance intact. Break of 1.5963 will target 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 1.6077) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

EUR/AUD edged lower to 1.6453 last week as fall from 1.9799 extended. But so far, it couldn’t sustain below 1.6597 key support level and recovered. Initial bias remains neutral this week first. On the upside, firm break of 1.6892 resistance should confirm short term bottoming, and more importantly, successful defending of 1.6597 key support. Intraday bias will be turned back to the upside for retesting 1.7194 resistance first. On the downside, sustained trading below 1.6597 will carry larger bearish implication and target 1.6085 support next.

In the bigger picture, focus stays on 1.6597 key cluster support, (2015 high and 38.2% retracement of 1.1602 to 1.9799 at 1.6668, 55 week EMA (now at 1.6553). Strong rebound from current level will retain medium term bullishness. Larger up trend from 1.1602 (2012 low) would extend through 1.9799 high. However, sustained break of 1.6597 will suggest bearish reversal and target 61.8% retracement at 1.4733.

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) 1.5814; (P) 1.5847; (R1) 1.5892; More…

Intraday bias in EUR/AUD is back on the upside as recent rise resumes. Sustained trading above 38.2% retracement of 1.6827 to 1.5250 at 1.5852 will bring stronger rise to 1.6033 key support turned resistance. On the downside, break of 1.5699 support will turn bias back to the downside for 1.5418 support instead.

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.

Daily Pivots: (S1) 1.5337; (P) 1.5457; (R1) 1.5519; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current down trend from 1.9799 should target 100% projection of 1.6409 to 1.5591 from 1.5945 at 1.5127 next. On the upside, above 1.5504 minor resistance will turn bias neutral and bring consolidations first, before staging another decline.

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) 1.6066; (P) 1.6105; (R1) 1.6141; More…

EUR/AUD is staying in consolidation from 1.6262 and intraday bias remains neutral first. Downside should be contained by 38.2% retracement of 1.5683 to 1.6262 at 1.6041 to bring rise resumption. Correction from 1.6765 has completed with three waves down to 1.5683. On the upside, break of 1.6262 will pave the way to retest 1.6765 high. However, firm break of 1.6041 will dampen this view and bring deeper fall to 61.8% retracement at 1.5904.

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) 1.5290; (P) 1.5349; (R1) 1.5431; More…

Immediate focus is now on 1.5425 minor resistance. Firm break there should confirm short term bottoming at 1.5254, after defending 1.5271 key support. Intraday bias will then be turned back to the upside for 55 day EMA (now at 1.5509) and above. On the downside, decisive break of 1.5271 will carry larger bearish implication and bring deeper fall to 61.8% retracement of 1.4281 to 1.5976 at 1.4928.

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) 1.5373; (P) 1.5425; (R1) 1.5489; More…

EUR/AUD is staying in consolidation from 1.5704 and intraday bias remains neutral. In case of deeper retreat, downside should be contained by 55 day EMA (now at 1.5244) to bring rebound. On the upside, 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) 1.5293; (P) 1.5331; (R1) 1.5391; More…

EUR/AUD recovered ahead of 1.5250 low and itnraday bias stays neutral first. With near term falling channel intact, further decline is in favor. On the downside, break of 1.5250 low will resume larger down trend from 1.9799, for 1.4733 fibonacci level. On the upside, though, break of 1.5689 and sustained trading above channel resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.5945 resistance and above.

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) 1.5775; (P) 1.5824; (R1) 1.5853; More…

Intraday bias in EUR/AUD stays neutral first. 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.

Daily Pivots: (S1) 1.5692; (P) 1.5728; (R1) 1.5783; More….

EUR/AUD’s consolidation from 1.5887 is still in progress and intraday bias remains neutral. Downside of retreat should be contained by 1.5596 support to bring rise resumption. On the upside, above 1.5887 will resume the rise from 1.5346 to 1.5984 resistance first. Decisive break there will pave the way to retest 1.6357 high. Nevertheless, break of 1.5596 will indicate completion of the rebound and turn bias back to the downside for retesting 1.5346 low.

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).

EUR/AUD rebounded strongly last week but failed to break through 1.6650 resistance. Initial bias remains neutral this week first, and another decline is in favor. on the downside, below 1.6446 minor support will bring retest of 1.6319. Break there will resume the decline from 1.7062 to 1.6000 fibonacci level. On the upside, firm break of 1.6650 resistance will argue that pull back from 1.7062 has completed, after drawing support from medium term rising trend line. Further rally would be seen back to retest 1.7062.

In the bigger picture, fall from 1.7062 is probably correcting whole up trend from 1.4281 (2022 low). Deeper decline would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound, at least on first attempt. This will remain the favored case as long as 1.6650 resistance holds.

In the longer term picture, loss of upside momentum as seen in 55 W MACD at this stage argues that rise from 1.4281 (2022 low) is more likely a corrective move. Further rise could still be seen as long as 1.5846 support holds. But upside will likely be limited by 61.8% retracement of 1.9799 to 1.4281 at 1.7691. Firm break of 1.5846 support will argue that the rise has completed, and another medium term down leg has started.

Daily Pivots: (S1) 1.5675; (P) 1.5709; (R1) 1.5771; More….

As long as 1.5633 minor support holds, further rise is expected in EUR/AUD. The breach of 1.5770 resistance suggests that medium term rise from 1.3264 is resuming. Sustained trading above 1.5770 will pave the way to 1.6587 key long term support. Nonetheless, below 1.5633 minor support will dampen this bullish case and turn intraday bias neutral first.

In the bigger picture, medium term rise from 1.3624 is not completed yet. Break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, sustained 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.