Daily Pivots: (S1) 1.5688; (P) 1.5747; (R1) 1.5834; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5591 is still extending. As long as 1.5830 resistance holds, outlook stays bearish and further fall is expected. Break of 1.5591 will resume larger down trend for 161.8% projection of 1.6827 to 1.6144 from 1.6420 at 1.5315 next. However, break of 1.5830 will bring stronger rebound to falling channel resistance (now at 1.5965).

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) 1.4479; (P) 1.4555; (R1) 1.4692; More…

EUR/AUD is staying in range below 1.4712 resistance. Intraday bias remains neutral and further decline is still expected. On the downside, firm break of 1.4318 low will resume larger down trend to medium term projection level at 1.3623. On the upside, break of 1.4712 resistance will turn bias back to the upside for stronger rebound, towards 1.5396 resistance.

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) 1.6236; (P) 1.6262; (R1) 1.6298; More…

Intraday bias in EUR/AUD remains on the upside for momentum. Current rally from 1.5683 is targeting 61.8% projection of 1.5683 to 1.6262 from 1.6052 at 1.6410 first. Break will target 100% projection at 1.6631 next. On the downside, below 1.6255 minor support will turn intraday bias neutral first. But retreat should be contained well above 1.6052 support to bring rise resumption.

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.

EUR/AUD’s down trend from 1.9799 finally resumed last week and hit as low as 1.5398. 61.8% projection of 1.6409 to 1.5591 from 1.5945 at 1.5439 was already taken out. Initial bias stays on the downside this week for 100% projection 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.

In the longer term picture rise from 1.1602 (2012 low) could have already completed with three waves up to 1.9799. The development suggests that long term range trading is extending with another medium term down leg. Sustained trading below 55 month EMA (now at 1.5838) now further affirms this case could bring deeper decline to 1.1602/3624 support zone.

Daily Pivots: (S1) 1.5507; (P) 1.5568; (R1) 1.5656; More….

EUR/AUD rebounds further today but it’s staying below 1.5770 resistance. Intraday bias remains neutral first. Overall, price actions from 1.5770 is seen as a consolidation pattern. In case of another fall, we’d expect strong support above 1.5226 key support to bring rebound. Medium term rally is still expected to resume later and break of 1.5770 will target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).

Daily Pivots: (S1) 1.6266; (P) 1.6365; (R1) 1.6416; More…

Immediate focus is now on 1.6219 support tin EUR/AUD. Considering bearish divergence condition in D MACD, decisive break of 1.6219 will argue that it’s already in correction to whole up trend from 1.4281. Deeper decline would then be seen to 38.2% retracement of 1.4281 to 1.6785 at 1.5282, which is inside 1.5254/5976 support zone. On the upside, break of 1.6411 minor resistance will retain near term bullishness and turn bias back to the upside for retesting 1.6785 high.

In the bigger picture, the solid break of 1.6434 resistance argues that whole down trend from 1.9799 (2020 high) has 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) 1.5015; (P) 1.5078; (R1) 1.5133; More…

Intraday bias in EUR/AUD stays neutral at this point. On the downside, break of 1.4882 support will reaffirm that case that corrective rebound from 1.4318 has completed at 1.5277, ahead of 1.5354 resistance. Intraday bias will be back on the downside for 1.4597 support first. Break there will bring retest of 1.4318 low. For now, risk will stay on the downside as long as 1.5277 resistance holds.

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) 1.6212; (P) 1.6236; (R1) 1.6259; More…

Intraday bias in EUR/AUD remains neutral and with 1.6202 minor support intact, further rise is mildly in favor. On the upside, above 1.6323 will target 1.6432 resistance. However, break of 1.6202 will argue that rebound from 1.5976 has completed. Intraday bias will be turned back to the downside for 1.5894/5905 key support zone 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 1.6069) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5468; (P) 1.5524; (R1) 1.5558; More…

EUR/AUD’s fall is still in progress and intraday bias remains on the downside. Current decline from 1.6434 is in progress for 161.8% projection of 1.6434 to 1.5907 from 1.6232 at 1.5379 next. Break there will target 1.5250 low. On the upside, above 1.5716 minor resistance will turn intraday bias neutral and bring consolidations. But near term outlook will remain bearish as long as 1.5907 support turned resistance holds.

In the bigger picture, rise from 1.5250 medium term bottom is seen as a correction to the down trend from 1.9799 (2020 high) only. With 38.2% retracement of 1.9799 to 1.5250 at 1.6988 intact, such down trend is expected to resume at a later stage. Firm break of 1.5250 will target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. In any case, sustained break of 1.6988 fibonacci level is needed to indicate long term reversal.

Daily Pivots: (S1) 1.6261; (P) 1.6371; (R1) 1.6438; More..

EUR/AUD’s decline resumed by breaking through 1.6267 support and intraday bias is back on the downside. Current fall from 1.7062 should target 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 next. For now, outlook will remain bearish as long as 1.6478 resistance holds, in case of recovery.

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.

EUR/AUD surged to as high as 1.6827 last week before forming a temporary top there and retreated. Initial bias remains neutral this week first. The development suggests that the cross is already in correction to fall from 1.9799 to 1.6033. Further rise is expected as long as 1.6485 support holds. Break of 1.6827 will target 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6485 support will argue that the rebound might be completed and turn focus to 1.6337 support for confirmation.

In the bigger picture, EUR/AUD is now back above 55 day EMA (now at 1.6463) with current rebound. The development argues 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 would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

In the longer term picture rise from 1.1602 (2012 low) could have already completed with three waves up to 1.9799. The development suggests that long term range trading is extending with another medium term down leg. Sustained trading below 55 month EMA (now at 1.5816) will further affirm this case and target 1.1602/3624 support zone.

EUR/AUD’s fall from 1.6434 continued last week and hit as low as 1.5609. Initial bias stays on the downside this week for 161.8% projection of 1.6434 to 1.5907 from 1.6232 at 1.5379 next. On the upside, above 1.5753 minor resistance will turn intraday bias neutral and bring consolidations. But near term outlook will remain bearish as long as 1.5907 support turned resistance holds.

In the bigger picture, rise from 1.5250 medium term bottom is seen as a correction to the down trend from 1.9799 (2020 high) only. With 38.2% retracement of 1.9799 to 1.5250 at 1.6988 intact, such down trend is expected to resume at a later stage. Firm break of 1.5250 will target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. In any case, sustained break of 1.6988 fibonacci level is needed to indicate long term reversal.

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.

Daily Pivots: (S1) 1.4503; (P) 1.4609; (R1) 1.4703; More…

Break of 1.4453 minor support argues that’s EUR/AUD’s rebound is completed at 1.4721. And the development keeps the pair in range of 1.4072/4880. Intraday bias is turned neutral first. On the downside, break of 1.4072 will extend the correction from 1.6587 towards next key support level 1.3671. Meanwhile, decisive break of 1.4880 resistance will indicate that such correction from 1.6587 is completed and turn near term outlook bullish for 1.5094 resistance next.

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 1.5094 will be the first sign of resumption of up trend from 1.1602 and target retesting 1.6587 resistance first.

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Daily Pivots: (S1) 1.5562; (P) 1.5617; (R1) 1.5717; More….

Intraday bias in EUR/AUD remains on the upside as medium term rise from 1.3624 is in progress. Further rally would be seen to 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. Break will target 100% projection at 1.6551, which is close to 1.6587 key resistance. On the downside, break of 1.5458 support is needed to indicate short term topping. Otherwise, outlook will remains bullish in case of retreat.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).

EUR/AUD recovered ahead of 1.5898 support last week, but upside is limited below 1.6116 resistance so far. Initial bias remains neutral this week first. On the upside, break of 1.6116 will argue that pull back from 1.6434 has completed after defending 1.5898 structural support. Larger rise from 15250 is still in progress. Intraday bias will be turned back to the upside for retesting 1.6434 first. On the downside, however, firm break of 1.5898 will argue that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support next.

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 rebounded strongly last week but failed to sustain above 1.6038 resistance retreated. Initial bias is neutral this week first. For now, we’d favor 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. Decisive break of 1.6038 will 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.

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.

EUR/AUD gyrated higher last week and rebound from 1.4281 short term bottom extended. Initial bias stays on the upside this week and further rise would be seen towards 1.5396 resistance. On the downside, however, break of 1.4663 minor support will turn bias back to the downside for retesting 1.4281 low.

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.

In the longer term picture, fall from 1.9799 (2020 high) is seen as the third leg of the pattern from 2.1127 (2008 high). Deeper fall should be seen to 1.3624 support. Decisive break there would pave the way back to 1.1602 (2012 low). This will remain the favored case as long as 55 month EMA (now at 1.5588) holds.

Daily Pivots: (S1) 1.6264; (P) 1.6293; (R1) 1.6339; More…

Range trading continues in EUR/AUD and intraday bias remains neutral at this point. On the upside, decisive break of 1.6434 resistance will carry larger bullish implications. However, considering bearish divergence condition in 4H MACD, firm break of 1.6216 should confirm short term topping, after rejection by 1.6389/6434 cluster resistance zone. Intraday bias will be back on the downside in this case, to 1.6033 support and possibly below.

In the bigger picture, focus stays on 1.6389/6434 cluster resistance (38.2% retracement of 1.9799 to 1.4281 at 1.6389). Sustained break there should confirm that whole down trend from 1.9799 (2020 high) has completed. Further rally should then be seen to 61.8% retracement at 1.7691. However, rejection by this cluster resistance will make medium term outlook neutral at best.

Daily Pivots: (S1) 1.7914; (P) 1.8101; (R1) 1.8259; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.9799 is extending. In case of deeper fall, 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.

Daily Pivots: (S1) 1.5807; (P) 1.5859; (R1) 1.5895; More….

EUR/AUD lost momentum after hitting 61.8% projection of 1.5258 to 1.5816 from 1.5626 at 1.5971. Intraday bias is turned neutral first. Another rise is expected as long as 1.5823 minor support holds. Break of 1.5976 will target 100% projection at 1.6184 next. Nonetheless, considering bearish divergence condition in 4 hour MACD, break of 1.5823 will indicate short term topping and bring deeper pull back to 1.5626 and possibly below.

In the bigger picture, medium term rise from 1.3624 is still in progress for 1.6587 key resistance. At this point, we’d be cautious on strong resistance from there to limit upside. But decisive break will confirm resumption of long term rise from 1.1602. On the downside, break of 1.5153 support is needed to indicate completion of the medium term rise. Otherwise, outlook will remain bullish in case of pull back.