Daily Pivots: (S1) 1.4863; (P) 1.4901; (R1) 1.4957; More….

Intraday bias in EUR/AUD remains neutral for the moment and outlook is unchanged. With 1.5042 minor resistance intact, deeper decline is expected to 1.4732 support. Decisive break there will confirm that fall from 1.5173 is the third leg of consolidation pattern from 1.5226. In that case, further fall should be seen to 1.4421 again. But we’d expect strong support from there to contain downside and bring rebound. On the upside, above 1.5042 minor resistance will turn bias back to the upside for 1.5173/5226 resistance zone instead.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term 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) 1.5719; (P) 1.5744; (R1) 1.5763; More…

Outlook in EUR/AUD remains unchanged and intraday bias 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 be the first sign that consolidation from 1.5250 has finally completed. Intraday bias will be turned 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) 1.5738; (P) 1.5769; (R1) 1.5794; More…

EUR/AUD breached 1.5721 low to 1.5714 but rebounded strongly since then. Intraday bias remains neutral first. Consolidation from 1.5721 might extend further. 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) 1.6019; (P) 1.6089; (R1) 1.6148; More….

Intraday bias in EUR/AUD remains on the downside as corrective fall from 1.6353 might extend to 100% projection of 1.6353 to 1.6051 from 1.6252 at 1.5950. But downside should be contained above 1.5886 cluster support (61.8% retracement of 1.5601 to 1.6353 at 1.5888) to bring rebound and then rise resumption. On the upside, break of 1.6252 resistance will target a retest on 1.6353 first.

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) 1.5708; (P) 1.5781; (R1) 1.5826; More…

Intraday bias in EUR/AUD remains neutral for the moment. Consolidation from 1.5721 might extend further. But in case of another rise, upside should be limited by 1.6122 near term resistance. On the downside, decisive break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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) 1.5675; (P) 1.5717; (R1) 1.5767; More….

Intraday bias in EUR/AUD remains neutral at this point. On the upside, above 1.5781 will resume the corrective 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.

EUR/AUD continued to stay in range of 1.4791/5173 last week and outlook is unchanged. Initial bias remains neutral this week first. 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.

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.

EUR/AUD retreated after edging higher to 1.5053 last week. But downside is contained by 1.4687 so far. Initial bias remains neutral this week first, and further rise is mildly in favor. On the upside, break of 1.5053 will resume the rebound from 1.4318 to target 61.8% retracement of 1.6223 to 1.4318 at 1.5495. However, firm break of 1.4687 will argue that the rebound has completed and bring retest of 1.4318 low.

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.

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).

EUR/AUD stayed in consolidation from 1.6033 last week and outlook is unchanged. Initial bias stays neutral this week first and more range trading could be seen. Overall, outlook will remain bearish for another decline as long as 1.6586 resistance holds. Break of 1.6033 will resume the whole fall from 1.9799, towards long term EMA at 1.5792. Nevertheless, on the upside, break of 1.6585 resistance should confirm short term bottoming and turn bias 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 55 month EMA (now at 1.5792). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.6586 resistance holds.

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 1.5792) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.4809; (P) 1.4856; (R1) 1.4906; More…

Intraday bias in EUR/AUD stays mildly on the downside for 1.4759 support. Corrective rise from 1.4318 should have completed at 1.5396 after rejection by 1.5354 support turned resistance. Sustained break of 1.4759 will affirm this bearish case and bring retest of 1.4318 low. On the upside, above 1.5043 minor resistance will turn intraday bias neutral first.

In the bigger picture, rejection by 1.5354 support turned resistance, as well as 55 week EMA (now at 1.5398), maintain medium term bearishness. That is, larger down trend from 1.9799 is not completed yet. 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) 1.6304; (P) 1.6328; (R1) 1.6358; More…

EUR/AUD’s correction is still in progress and deeper fall could be seen. For now, we’d still expect 1.6247 resistance turned support to contain downside to bring rebound. On the upside, break of 1.6680 resistance will resume larger rally through 1.6786. However, sustained break of 1.6247 will bring deeper fall towards 1.5894 support instead.

In the bigger picture, outlook remains bullish and up trend from 1.1602 (2012 low) is still in progress. Prior 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.

Daily Pivots: (S1) 1.6684; (P) 1.6820; (R1) 1.6892; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current fall from 1.9799 should target 1.6597 key support. Firm break there will carry larger bearish implications. On the upside, though, break of 1.7350 minor resistance will suggest short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, while the pull back from 1.9799 is deep, there is no clear sign of trend reversal yet. EUR/AUD is still holding on to 1.6597 (2015 high) cluster support, with 38.2% retracement of 1.1602 to 1.9799 at 1.6668. Larger rise from 1.1602 (2012 low) is in progress and would resume at a later stage. However, sustained break of 1.6597 suggest bearish reversal.

Daily Pivots: (S1) 1.5137; (P) 1.5265; (R1) 1.5333; More….

Intraday bias in EUR/AUD remains neutral for consolidation below 1.5392 temporary top. Overall near term outlook remains bullish as long as 1.1494 support holds. Break of 1.5392 will resume medium term rise from 1.3624 and 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 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.

Daily Pivots: (S1) 1.6143; (P) 1.6241; (R1) 1.6405; More…

Intraday bias in EUR/AUD remains on the upside at this point. Corrective pull back from 1.6786 should have completed at 1.5905. Further rise should be seen back to 1.6680/6786 resistance zone next. On the downside, however, break of 1.6074 minor support will turn bias back to the downside for retesting 1.5894 key support 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 1.6024) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.6231; (P) 1.6292; (R1) 1.6345; More…

Intraday bias in EUR/AUD remains on he downside for the moment. Current fall from 1.6742 is seen as the third leg of the corrective pattern from 1.7062. Deeper decline should be seen to expected to 1.6127 support, or further to 100% projection of 1.7062 to 1.6127 from 1.6742 at 1.5807. On the upside, above 1.6336 minor resistance will turn intraday bias neutral first. But for now, risk will remain on the downside as long as 1.6494 resistance holds, in case of recovery.

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) 1.6175; (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) 1.5674; (P) 1.5739; (R1) 1.5803; More….

No change in EUR/AUD’s outlook even though upside momentum is very unconvincing. As long as 1.5606 support holds, further rally is expected. Sustained break of 1.5770 resistance will confirm resumption of medium term rise from 1.3264. In that case, EUR/AUD should target 1.6587 key long term resistance. However, below 1.5606 minor support minor support will dampen this bullish case and turn bias to the downside.

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.

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) 1.5397; (P) 1.5443; (R1) 1.5482; More….

EUR/AUD extends to as low as 1.5370 so far today and intraday bias remains on the downside. Current decline from 1.6189 is expected to target 1.5153 key support level next. On the upside, above 1.5494 minor resistance will turn intraday bias neutral and bring consolidation, before staging another decline.

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) 1.4501; (P) 1.4550; (R1) 1.4638; More…

A temporary top could be in place at 1.4605 and intraday bias in EUR/AUD is turned neutral for consolidation. Downside of retreat should be contained by 1.4334 support and bring another rise. We’re holding on to the case off trend reversal after defending 1.3671 key support. Above 1.4605 will target 1.4721 resistance. Decisive break of 1.4721 will confirm our bullish view.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after defending 1.3671 key support. Break of 1.4721 cluster resistance (38.2% retracement of 1.6587 to 1.3624 at 1.4756) should confirm this case and target 61.8% retracement at 1.5455 and above. Overall, we’d expect the up trend from 1.1602 to resume later. However, sustained break of 1.3671 will invalidate our bullish view and would turn extend the fall from 1.6587 towards 1.1602 long term bottom.