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.

Daily Pivots: (S1) 1.6620; (P) 1.6689; (R1) 1.6819; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, above 1.6843 will resume the rebound from 1.6319. Firm break there will resume larger up trend. However, break of 1.6550 support will bring deeper fall back to 1.6319 support instead.

In the bigger picture, the strong support from medium term rising trend line indicates that rise from 1.4281 (2022 low) is still in progress. Sustained break of 1.7062 will pave the way to 61.8% retracement of 1.9799 (2020 high) to 1.4281 at 1.7691. In any case, outlook will stay bullish as long as 1.6319 support holds.

Daily Pivots: (S1) 1.5507; (P) 1.5538; (R1) 1.5595; More…

EUR/AUD is staying in consolidation from 1.5250 and intraday bias remains neutral. On the upside, break of 1.5672 will bring stronger rebound. But upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, below 1.5423 should bring retest of 1.5250 low. Overall, down trend from 1.9799 is expected to resume after consolidation from 1.5250 completes.

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) 1.6462; (P) 1.6499; (R1) 1.6564; More…

Intraday bias in EUR/AUD remains neutral as sideway consolidation from 1.6033 is still extending. Outlook stays bearish with 1.6772 resistance intact and further decline is expected. On the downside, firm break of 1.6033 will resume the fall from 1.9799 for next support level at 1.5346. On the upside, however, break of 1.6772 resistance will confirm short term bottoming and turn bias back 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 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.7194 resistance holds.

Daily Pivots: (S1) 1.5298; (P) 1.5409; (R1) 1.5473; More….

EUR/AUD drops further to as low as 1.5343 as correction from 1.5770 extends. At this point, we’d still expect downside to be contained above 1.5226 key support to bring rally resumption. Above 1.5482 minor resistance will turn bias to the upside for 1.5770. Break there will resume the medium term rise and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, sustained break of 1.5226 will carry larger bearish implications and turn outlook bearish.

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) 1.5556; (P) 1.5591; (R1) 1.5644; More…

Intraday bias in EUR/AUD remains neutral as consolidation pattern from 1.5250 is still extending. In case of another rise, upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, break of 1.5234 will bring retest of 1.5250 low. Overall, down trend from 1.9799 is expected to resume after consolidation from 1.5250 completes.

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) 1.5792; (P) 1.5856; (R1) 1.5925; More….

At this point, intraday bias in EUR/AUD remains on the upside. Prior break of 1.5816 resistance confirmed medium term rise resumption. Further rally should be seen to 61.8% projection of 1.5258 to 1.5816 from 1.5626 at 1.5971. Break will target 1.6526. On the downside, below 1.5786 minor support will turn intraday bias neutral. But outlook will remain bullish as long as 1.5626 support holds.

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.

Daily Pivots: (S1) 1.6347; (P) 1.6485; (R1) 1.6576; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.6786 continues. In case of another fall, downside should be contained above 1.6247 resistance turned support to bring rise resumption. On the upside, break of 1.6786 will extend larger up trend to 161.8% projection of 1.5683 to 1.6448 from 1.5894 at 1.7132.

In the bigger picture, current development suggests that up trend from 1.1602 (2012 low) is resuming. Strong 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) 1.5708; (P) 1.5732; (R1) 1.5758; More…

Intraday bias in EUR/AUD is turned neutral with 4 hour MACD crossed above signal line. But risk stays on the downside as long as 1.5489 holds. Consolidation pattern from 1.5250 might have completed just missing 38.2% retracement of 1.6827 to 1.5250 at 1.5852. Below 1.5665 will target 1.5418 support first. Sustained break there will solidify this bearish case and target a retest of 1.5250 low.

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) 1.5887; (P) 1.5998; (R1) 1.6067; More….

EUR/AUD drops notably and breached 1.5941 minor support but recovered. Intraday bias is neutral for now first. On the downside, firm break of 1.5941 will turn bias to the downside for 1.5271 support. Break there will resume whole decline from 1.6765. Meanwhile, rebound from current level will retain near term bullishness. Break of 1.6122 will target 1.6765.

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.

EUR/AUD dropped sharply to 1.5651 last week but drew immediate support from 38.2% retracement of 1.5271 to 1.5886 at 1.5651 and rebounded. The development suggests that rise from 1.5271 is not completed yet. Initial bias is neutral this week first for some more consolidative sideway trading. On the upside, break of 1.5888 will resume the rise from 1.5271 and target 1.6139/89 resistance zone.

In the bigger picture, current development suggests that fall from 1.6189 is a corrective move and has completed at 1.5271 already. Key support levels of 1.5153 and 38.2% retracement of 1.3624 to 1.6189 at 1.5209 were defended. And medium term rise from 1.3624 (2017 low) is still in progress. Break of 1.6189 will target 1.6587 key resistance (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) 1.5630; (P) 1.5680; (R1) 1.5762; More…

Intraday bias in EUR/AUD stays on the upside as rebound from 1.5354 extends. Sustained break of 55 day EMA (now at 1.5764) will argue that whole fall from 1.6434 has completed and bring stronger rally. On the downside, however, below 1.5585 minor support will turn bias back to the downside for 1.5354. Break there will target a test on 1.5250 low.

In the bigger picture, the down trend from 1.9799 (2020 high) is in progress. Firm break of 1.5250 low will confirm resumption and target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. Sustained break there could bring more downside acceleration to 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623. In any case, break of 1.6434 resistance is needed to signal medium term bottoming, or outlook will stay bearish.

Daily Pivots: (S1) 1.5657; (P) 1.5702; (R1) 1.5771; More….

Focus is back on 1.5773 support turned resistance in EUR/AUD, with today’s rise. Sustained break of 1.5773 will indicate that whole decline from 1.6189 has completed with three waves down to 1.5271 already. And retest of 1.6189 should be seen next. On the downside, break of 1.5617 minor support will turn bias to the downside for 1.5425. Break there will confirm completion of rebound from 1.5271 and target this low again.

In the bigger picture, focus is back on 1.5773 support turned resistance with the current strong rebound. Firm break there will argue that medium term rise from 1.3624 (2017 low) is not completed yet. Further break of 1.6189 will target 1.6587 key resistance (2015 high). Though, rejection by 1.5773 will revive the case of bearish trend reversal and target 61.8% retracement of 1.3624 to 1.6189 at 1.4604.

Daily Pivots: (S1) 1.7298; (P) 1.7528; (R1) 1.7648; More…

EUR/AUD’s decline from 1.9799 extended further and breached 61.8% retracement of 1.6085 to 1.9799 at 1.7504. There is no clear sign of bottoming yet. Sustained trading below 1.7504 will raise the chance of larger reversal and pave the way to 1.6085/6593 support zone. Nevertheless, break of 1.8124 resistance will suggest that the pull back has completed. Intraday bias will be turned back to the upside for retesting 1.9799 high.

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) 1.4674; (P) 1.4725; (R1) 1.4777; More…

EUR/AUD is still bounded inside consolidation from 1.4508 and intraday bias remains neutral. While stronger recovery cannot be ruled out, upside should be limited below 1.4910 resistance to bring fall resumption. On the downside, break the 1.4508 will resume the decline from 1.5396 to retest 1.4318 low. However, firm break of 1.4910 will dampen this bearish view and bring stronger rally.

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) 1.6115; (P) 1.6185; (R1) 1.6314; More…

EUR/AUD’s break of 1.6200 resistance confirms resumption of larger rise from 1.4281. Intraday bias is back on the upside for 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302 and then 1.6389 fibonacci level. On the downside, below 1.6053 minor support will turn intraday bias neutral first. But outlook will continue to stay bullish as long as 1.5848 support holds.

In the bigger picture, the strong support from 55 week EMA (now at 1.5404) is raising the chance of bullish trend reversal. Focus is now on 1.6434 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) 1.6365; (P) 1.6454; (R1) 1.6509; More…

Intraday bias in EUR/AUD stays neutral for the moment. Further rally is expected with 1.6255 support intact. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. Above 1.6552 will target a retest on 1.6785 high next. Nevertheless, on the downside, break of 1.6255 will dampen this view and turn bias to the downside for 1.5846 support.

In the bigger picture, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.

EUR/AUD’s rise from 1.5683 resumed last week by breaking 1.6262 resistance. But as a temporary top was formed at 1.6363, initial bias is neutral this week for some consolidations first. Downside of retreat should be contained well above 1.6052 support to bring rise resumption. On the upside, break of 1.6363 will turn bias back to the upside for 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.

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.

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 1.5346 remains intact.

EUR/AUD’s fall from 1.6434 continued last week and reached as high as 1.5356. Initial bias stays on the downside this week for 1.5250 low. Sustained break there will confirm resumption of larger down trend. Next target is 1.4733 long term fibonacci support. On the upside, break of 1.5523 minor resistance will turn bias back to the upside for stronger rebound first.

In the bigger picture, the down trend from 1.9799 (2020 high) is in progress. Firm break of 1.5250 low will confirm resumption nand target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. Sustained break there could bring more downside acceleration to 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623. In any case, break of 1.6434 resistance is needed to signal medium term bottoming, or outlook will stay bearish.

In the longer term picture, fall from 1.9799 (2020 high) is seen as a long term down trend. Sustained break of 61.8 retracement of 1.1602 to 1.9799 at 1.4733 will extend the decline to 1.3624 long term support and possibly below.

Daily Pivots: (S1) 1.6048; (P) 1.6081; (R1) 1.6134; More…

Intraday bias in EUR/AUD stays neutral and consolidation from 1.6026 could extend. But upside should be limited by

EUR/AUD’s down trend continued last week but it recovered after hitting 1.6026. Initial bias is neutral this week for some consolidations first. Upside should be limited by 1.6211 support turned resistance to bring another fall. Below 1.6026 will turn bias back to the downside for 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950.

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) only. Strong support is still expected between 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.