Daily Pivots: (S1) 1.5761; (P) 1.5825; (R1) 1.5859; More….

A temporary top is in place at 1.5887 and intraday bias is turned neutral for some consolidations first. Another rise is expected as long as 1.5596 support holds. On the upside, above 1.5887 will target 1.5984 support turned resistance. Break will bring retest of 1.6357 high. However, break of 1.5596 will indicate completion of the rebound and target 1.5346 support.

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) 1.5740; (P) 1.5794; (R1) 1.5880; More….

Intraday bias in EUR/AUD remains on the upside at this point. Fall from 1.6357 should have completed earlier than expected at 1.5346. Further rise should be seen to 1.5984 support turned resistance first. Break will bring retest of 1.6357 high. On the downside, break of 1.5706 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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 to as high as 1.5845 last week. The break of 1.5781 resistance argues that decline from 1.6357 has completed much earlier than expected. Initial bias is turned back to the upside for 1.5984 support turned resistance first. Break will bring retest of 1.6357 high. On the downside, break of 1.5706 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

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).

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) 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 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.5619; (P) 1.5704; (R1) 1.5811; More….

Intraday bias in EUR/AUD remains on the upside with focus on 1.5781 resistance. Decisive break there will suggest that corrective fall from 1.6357 has completed earlier than expected. Near term outlook will be turned bullish for retesting 1.6357 high. On the downside, below 1.5596 minor support will turn bias back to the downside for 1.5346 and then 1.5271/5313 cluster support zone.

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). Fall from 1.6357 should be corrective such up trend and would target 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will extend the correction to Break will target 61.8% retracement at 1.4668. Nevertheless, firm break of 1.5781 will suggest that the pull back has already completed. And larger uptrend from 1.3624 might be ready to resume.

Daily Pivots: (S1) 1.5475; (P) 1.5551; (R1) 1.5680; More….

EUR/AUD’s rebound from 1.5346 accelerates higher today and focus is back on 1.5781 resistance. Decisive break there will suggest that corrective fall from 1.6357 has completed earlier than expected. Near term outlook will be turned bullish for retesting 1.6357 high. On the downside, below 1.5556 minor support will turn bias back to the downside for 1.5346 and then 1.5271/5313 cluster support zone.

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). Fall from 1.6357 should be corrective such up trend and would target 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will extend the correction to Break will target 61.8% retracement at 1.4668. Nevertheless, firm break of 1.5781 will suggest that the pull back has already completed. And larger uptrend from 1.3624 might be ready to resume.

Daily Pivots: (S1) 1.5415; (P) 1.5441; (R1) 1.5480; More….

EUR/AUD rebounded after hitting 1.5346, ahead of 1.5271/5313 cluster support zone. Intraday bias is turned neutral first. While stronger recovery cannot be ruled out, near term outlook will stay bearish as long as 1.5781 resistance holds. On the downside, below 1.5346 will target 1.5271/5313 cluster support zone again. However, considering bullish convergence condition in 4 hour MACD, break of 1.5781 will suggest that fall from 1.6357 has completed. And intraday bias will be turned back to the upside for retesting 1.6357.

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). Fall from 1.6357 should be corrective such up trend and would target 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will extend the correction to Break will target 61.8% retracement at 1.4668. Nevertheless, firm break of 1.5781 will suggest that the pull back has already completed. And larger uptrend from 1.3624 might be ready to resume.

Daily Pivots: (S1) 1.5369; (P) 1.5407; (R1) 1.5468; More….

EUR/AUD recovers mildly but intraday bias on the downside with 1.5505 minor resistance intact. Deeper decline should be seen to 1.5271/5313 cluster support zone next. On the upside, above 1.5505 minor resistance will turn intraday bias neutral and bring consolidation. But recovery should be limited below 1.5781 resistance to bring fall resumption.

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. This will remain the favored case as long as 1.5781 resistance holds.

Daily Pivots: (S1) 1.5430; (P) 1.5507; (R1) 1.5551; More….

EUR/AUD’s decline accelerates to as low as 1.5397 so far and intraday bias stays on the downside. Current fall from 1.6357 should target 1.5271/5313 cluster support zone next. On the upside, above 1.5505 minor resistance will turn intraday bias neutral and bring consolidation. But recovery should be limited below 1.5781 resistance to bring fall resumption.

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. This will remain the favored case as long as 1.5781 resistance holds.

EUR/AUD’s decline from 1.6357 resumed last week by breaking 1.5519 and reached as low as 1.5468. Initial bias stays is now on the downside this week for 1.5271/5313 cluster support zone next. On the upside, above 1.5581 minor resistance will turn intraday bias neutral and bring consolidation. But recovery should be limited below 1.5781 resistance to bring fall resumption.

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. This will remain the favored case as long as 1.5781 resistance holds.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) 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 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.5518; (P) 1.5554; (R1) 1.5604; More….

EUR/AUD recovered after breaching 1.5519 and intraday bias is turned neutral first. On the downside, sustained break of 1.5519 will resume the fall from 1.6357 and target 1.5271/5313 cluster support zone next. On the upside, above 1.5633 minor resistance will delay the bearish case and extend the consolidation from 1.5519 with another rise. But 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) 1.5503; (P) 1.5570; (R1) 1.5624; More….

Breach of 1.5519 low suggests that fall from 1.6357 is resuming. Intraday bias stays on the downside for 1.5271/5313 cluster support zone next. On the upside, above 1.5633 minor resistance will delay the bearish case and extend the consolidation from 1.5519 with another rise. But 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) 1.5568; (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) 1.5650; (P) 1.5676; (R1) 1.5719; More….

EUR/AUD’s break of 1.5643 minor support suggests the corrective recovery from 1.5519 has completed at 1.5781 already. Intraday bias is back on the downside for retesting 1.5519 low first. 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) 1.5628; (P) 1.5694; (R1) 1.5739; More….

Intraday bias in EUR/AUD remains neutral first with focus on 1.5643 minor support. Break there will indicate completion of the corrective rise from 1.5519. Intraday bias will turn back to the downside for retesting 1.5519 low first. On the upside, above 1.5781 would extend the corrective rise 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.

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 rebounded to 1.5781 last week but retreated since then. Initial bias is neutral this week first. The corrective rise from 1.5519 could extend 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 turn bias back to the downside for retesting 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.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) 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 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

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.

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) 1.5692; (P) 1.5733; (R1) 1.5795; More….

Intraday bias in EUR/AUD remains mildly on the upside at this point. Rebound from 1.5519 short term bottom is in progress for 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) 1.5613; (P) 1.5668; (R1) 1.5759; More….

The break of 1.5693 minor resistance suggests that a short term bottom is formed at 1.5519 in AUD/USD, in bullish convergence condition in 4 hour MACD. Intraday bias is turned back to the upside for rebound 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) 1.5530; (P) 1.5587; (R1) 1.5629; More….

Intraday bias in EUR/AUD remains neutral for consolidation above 1.5519 temporary low. As long as 1.5693 minor resistance intact, further decline is expected. On the downside, break of 1.5519 will resume the decline from 1.6357 for 1.5271/5313 cluster support zone next. On the upside, break of 1.5693 should indicate short term bottoming, on bullish convergence condition in 4 hour MACD. In that case, stronger rebound would be seen back to 55 day EMA (now at 1.5928).

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.