Daily Pivots: (S1) 1.6507; (P) 1.6545; (R1) 1.6595; More…

EUR/AUD rises further to as high as 1.6609 so far today. The break of 1.6586 resistance now suggests that it’s at least in correction to fall from 1.9799 to 1.6033. Intraday bias is now on the upside for 38.2% retracement of 1.9799 to 1.6033 at 1.7472. On the downside, though, break of 1.6485 support will dampen this bullish case and turn intraday bias neutral first.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall might be seen to 55 month EMA (now at 1.5823). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. However, strong support from 55 week EMA (now at 1.6453) would neutralize the long term bearishness and argues that price actions from 1.9799 are developing into a sideway range pattern instead.

Daily Pivots: (S1) 1.5355; (P) 1.5444; (R1) 1.5494; More….

EUR/AUD’s steep fall and break of 1.5314 suggests resumption of recent decline from 1.6189. Intraday bias is back on the downside for 1.5153 key support level . On the upside, break of 1.5529 resistance is now needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, rally from 1.3624 (2017 low) should have completed at 1.6189 already, ahead of 1.6587 key resistance (2015 high). 1.6189 is seen as a medium term top. Deeper fall would be seen to 38.2% retracement of 1.3624 to 1.6189 at 1.5209 first. Decisive break there will pave the way to 61.8% retracement at 1.4604. In that case, we’ll look for bottoming again below 1.4604. On the upside, firm break of 1.5773 support turned resistance is needed to indicate completion of the fall from 1.6189. Otherwise, further decline is expected in medium term, even in case of strong rebound.

Daily Pivots: (S1) 1.5628; (P) 1.5709; (R1) 1.5755; More….

EUR/AUD retreats after hitting 1.5781 and intraday bias is turned neutral first. On the upside, above 1.5781 will resume the rebound from 1.5519 to 38.2% retracement of 1.6357 to 1.5519 at 1.5839 and possibly above. But upside should be limited well below 1.5984 support turned resistance to bring fall resumption. On the downside, below 1.5643 minor support will bring retest of 1.5519 low.

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) 1.6155; (P) 1.6195; (R1) 1.6224; More…

Intraday bias in EUR/AUD remains on the downside at this point. Corrective recovery from 1.5905 should have completed at 1.6432 already. Further fall should be seen to retest 1.5984/5905 key support zone. Decisive break there will carry larger bearish implication. On the upside, however, break of 1.6310 minor resistance will turn bias back to the upside for 1.6432 resistance again.

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) 1.6676; (P) 1.6737; (R1) 1.6833; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, sustained break of 1.6843 will resume the rebound from 1.6319 for retesting 1.7062 high next. On the downside, however, below 1.6631 minor support will turn bias back to the downside for 1.6449 support instead.

In the bigger picture, while 1.7062 is a medium term top, there is no clear sign of trend reversal as EUR/AUD continues to draw strong support from the medium term trend line. Break of 1.7062 will resume the larger up trend from 1.4281 (2022 low) to 1.7691 fibonacci level. Nevertheless, break of 1.6449 support will argue that deeper correction is underway to 38.2% retracement of 1.4281 to 1.7062 at 1.6000.

After some initial struggles, EUR/AUD’s rally accelerated to as high as 1.1618 last week. Initial bias remains on the upside this week for further rally. With 161.8% projection of 1.5354 to 1.5743 from 1.5446 at 1.6075 taken out, next target is 1.6434 high. On the downside, below 1.5968 minor support will turn intraday bias neutral first.

In the bigger picture, medium term outlook is neutral for the moment. Rise from 1.5354 is seen as the third leg of the corrective pattern from 1.5250 low first. Further rise could be seen through 1.6434 towards 38.2% retracement of 1.9799 to 1.5250 at 1.6988. On the downside, however, sustained trading below 55 day EMA (now at 1.5747) will turn focus back to 1.5250 low instead.

In the longer term picture, fall from 1.9799 (2020 high) is seen as a long term down trend. Further decline will remain in favor as long as 38.2% retracement of 1.9799 to 1.5250 at 1.6988 holds. Break of 1.5250 will target 61.8 retracement of 1.1602 (2012 low) to 1.9799 at 1.4733

Daily Pivots: (S1) 1.5973; (P) 1.6002; (R1) 1.6041; More….

Intraday bias in EUR/AUD stays neutral with focus on 1.6059 resistance now. Break there will indicate completion of the pull back from 1.6189. And in that case, larger rise from 1.3624 is likely still in progress. Intraday bias will be turned back to the upside for 1.6189 first. However, on the downside, below 1.5847 minor support will suggest that rebound form 1.5773 has completed and fall from 1.6189 is resuming. Intraday bias would be turned back to the downside for 1.5773 and then 1.5621 key support level next.

In the bigger picture, the case for medium term reversal is building up in EUR/AUD. Bearish divergence condition in daily MACD indicates further loss of upside momentum ahead of 1.6587 key resistance (2015 high). Break of 1.5621 should confirm medium term topping and bring deeper fall back to 1.5153 and possibly below. Meanwhile, even in case of up trend resumption, we’d be cautious on strong resistance from 1.6587 to limit upside and bring reversal.

EUR/AUD’s rise from 1.5846 resumed last week and hit as high as 1.6766. Immediate focus is now on 1.6785 resistance this week. Decisive break there will confirm resumption of larger up trend, and target 1.7377 projection level next. On the downside, break of 1.6577 resistance turned support will turn bias back to the downside for 1.6259 support, to extend the corrective pattern from 1.6785.

In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Firm break of 1.6785 will confirm resumption for 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will stay bullish as long as 1.5846 support holds, even in case of another pull back.

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 1.5846 support holds. Next target is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.

Daily Pivots: (S1) 1.6144; (P) 1.6210; (R1) 1.6252; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.6319 resistance will now indicate short term bottoming, on bullish convergence condition in 4H MACD. Intraday bias will be back on the upside for 1.6478 resistance. Nevertheless, on the downside, below 1.6148 will resume recent decline for 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106.

In the bigger picture, fall from 1.7062 medium term top is seen as correcting the 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 on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.

Daily Pivots: (S1) 1.5930; (P) 1.5975; (R1) 1.6039; More….

Intraday bias in EUR/AUD stays neutral first. As long as 1.5857 minor support holds, further rally is expected in the cross. On the upside, above 1.6084 minor resistance will turn bias to the upside for retesting 1.6189 first. Break will resume larger rally towards 1.6587 key resistance. However, break of 1.5857 will be an early sign of trend reversal and turn bias to the downside for 1.5621 support to confirm.

In the bigger picture,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.

EUR/AUD’s choppy rise from 1.5559 resumed last week. Initial bias is now mildly on the upside this week for retesting 1.6168 resistance. Break there will resume the rise from 1.5354 to 1.6434 resistance. On the downside, though, break of 1.5712 support will turn bias back to the downside for 1.5559 support instead.

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.

In the longer term picture, fall from 1.9799 (2020 high) is seen as a long term down trend. Further decline will remain in favor as long as 38.2% retracement of 1.9799 to 1.5250 at 1.6988 holds. Break of 1.5250 will target 61.8 retracement of 1.1602 (2012 low) to 1.9799 at 1.4733

Daily Pivots: (S1) 1.5454; (P) 1.5485; (R1) 1.5547; More…

EUR/AUD is still bounded in sideway consolidation from 1.5704 and intraday bias remains neutral. In case of another fall, downside should be contained by 55 day EMA (now at 1.5332) 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) 1.5551; (P) 1.5616; (R1) 1.5686; More…

Despite some loss of upside momentum, further rise is expected in EUR/AUD with 1.5429 support intact. Next target is 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. On the downside, break of 1.5429 minor support turn bias back 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) 1.5346; (P) 1.5412; (R1) 1.5465; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, above 1.5496 will affirm the case of short term bottoming 1.5254, after defending 1.5271 key support. Intraday bias will then be turned back to the upside for 1.5749 resistance 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.

EUR/AUD surged to as high as 1.7069 last week and resumed larger up trend from 1.1602. Initial bias remains on the upside for 161.8% projection of 1.5962 to 1.6593 from 1.6085 at 1.7106. Break will target 200% projection at 1.7347 next. On the downside, below 1.6827 minor support will turn intraday bias neutral first. But downside of retreat should be contained by 1.6593 resistance turned support to bring another rally.

In the bigger picture, up trend from 1.1602 (2012 low) has just resumed and persistent strong support from 55 week EMA affirm medium term bullishness. 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 is next target. For now, outlook will remain bullish as long as 1.5906 support holds, in case of retreat.

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 1.5962 remains intact. Break of 1.7488 will target 100% projection of 1.1602 to 1.6597 from 1.3524 at 1.8619.

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.

EUR/AUD’s rebound from 1.4281 resumed last week and accelerated to close strongly at 1.5310. Initial bias stays on the upside this week for 100% projection of 1.4281 to 1.4965 from 1.4716 at 1.5400, which is close to 1.5396 key resistance. Firm break there will carry larger bullish implication. Next target is 161.8% projection at 1.5823. On the downside, below 1.5132 minor support will turn intraday bias neutral first.

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 1.5610) 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) 1.6182; (P) 1.6261; (R1) 1.6309; More…

Outlook in EUR/AUD is unchanged and intraday bias stays neutral. 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) 1.5698; (P) 1.5760; (R1) 1.5819; More….

Intraday bias in EUR/AUD remains neutral at this point and consolidation from 1.5887 might extend. Downside of retreat should be contained by 1.5596 support to bring another rally. On the upside, break of 1.5887 will target 1.5984 support turned resistance first. Break will pave the way to retest 1.6357 high next. However, break of 1.5596 will suggest that the rebound is completed. Intraday bias would then be turned back to the downside for 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).

Daily Pivots: (S1) 1.6370; (P) 1.6427; (R1) 1.6493; More…

EUR/AUD is staying in consolidation from 1.6267 and intraday bias remains neutral at this point. Outlook stays bearish as long as 55 D EMA (now at 1.6593) holds. On the downside, break of 1.6267 will resume larger decline from 1.7062 to 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 next.

In the bigger picture, the break of medium term trend line support now suggests fall from 1.7062 correcting the 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 on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.