Daily Pivots: (S1) 1.6944; (P) 1.6980; (R1) 1.7015; More…

Intraday bias in EUR/AUD is turned neutral first as consolidation from 1.7062 temporary top is extending. Further rally is expected as long as 1.6737 support holds. Break of 1.7062 will resume larger up trend from 1.4281 to 1.7377 projection level.

In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Next target is 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.

Daily Pivots: (S1) 1.6405; (P) 1.6442; (R1) 1.6498; More…

Intraday bias in EUR/AUD remains neural as sideway consolidation continues. Further decline is in favor with 1.6772 resistance intact. On the downside, firm break of 1.6033 will resume the decline 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.

EUR/AUD dropped to as low as 1.5583 last week and the strong break of 1.5250 confirmed resumption of larger down trend from 1.9799. Initial bias stays on the downside this week for next target at 161.8% projection of 1.6343 to 1.5354 from 1.6223 at 1.4476. On the upside, above 1.5118 minor resistance will turn intraday bias neutral and bring consolidations, before staging another fall.

In the bigger picture, fall from 1.9799 is seen as a long term impulsive move. Next target is 61.8% projection of 1.9799 to 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). Some support could be seen there to bring interest rebound. But overall, break of 1.5354 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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 in range of 1.6439/6742 last week and outlook is unchanged. Initial bias remains neutral this week first. Near term outlook will stay cautiously bullish as long as 1.6439 support holds. On the upside, above 1.6677 will target 1.6742 first. Decisive break there will resume whole rise from 1.6127 and target 1.6844 resistance next.

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). Break of 1.6844 resistance will argue that this up trend is ready to resume through 1.7062 high. In case of another fall, strong support should be seen around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

In the longer term picture, price actions from 1.9799 (2020 high) are seen as a long term decline at the same scale as the rise from 1.1602 (2012 low). Rebound from 1.4281 is seen as the second leg. As long as 55 M EMA (now at 1.5932) holds, this second leg could still extend higher. However, sustained trading below 55 M EMA will open up the bearish case for extending the decline through 1.4281 low.

EUR/AUD spiked higher to 1.6765 last week but pulled back sharply from there. A short term top was formed and initial bias is now on the downside for pull back to 55 day EMA (now at 1.5919) and possibly below. On the upside, above 1.6205 minor resistance will argue that the pull back is completed and turn bias back to the upside for retesting 1.6765.

In the bigger picture, the failure to sustain above 1.6587 key resistance (2015 high), argues that up trend from 1.1602 (2012 low), is not ready to resume yet. But still, as long as 1.5346 support holds, outlook will remain bullish. Break of 1.6765 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488 next.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress. Break of 61.8% retracement of 2.1127 to 1.1602 at 1.7488 will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. And this will remain the favored case as long as 1.5346 remains intact.

EUR/AUD’s rally resumed last week but lost momentum ahead of 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302 and retreat. Initial bias stays neutral this week first. Further rally is expected as long as 1.6053 support holds. Decisive break there of 1.6302 will resume larger rally from 1.4281 to 1.6389 fibonacci level and then 1.6434 resistance. However, firm break of 1.6053 will indicate rejection by 1.6302 and turn bias back to the downside for 1.5848 support.

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.

In the longer term picture, the strong break above 55 month EMA (now at 1.5616) raised the chance of bullish trend reversal. Firm break of 1.6434 resistance should confirm that the down trend from 1.9799 has completed. It’s still early to decide if the up trend from 1.1602 (2012 low) is resuming. An assessment will be made after rise from 1.4281 reveals more of its structure.

Daily Pivots: (S1) 1.6314; (P) 1.6354; (R1) 1.6392; More…

No change in EUR/AUD’s outlook as further rally is expected with 1.6033 support intact. Decisive break of 1.6389/6434 cluster resistance zone will carry larger bullish implications. However, firm break of 1.6033 support will confirm short term topping, after rejection by the mentioned resistance. Intraday bias will be turned back to the downside for 1.5848 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) 1.5586; (P) 1.5638; (R1) 1.5701; More…

Sideway consolidation continues in EUR/AUD and intraday bias remains neutral first. In case of another fall, downside should be contained by 55 day EMA (now at 1.5360) 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) 1.6463; (P) 1.6506; (R1) 1.6537; More…

EUR/AUD is staying in consolidation in range of 1.6033/6586 and intraday bias remains neutral. On the upside, sustained break of 1.6586 will suggest that it’s at least in correction to the fall from 1.9799 to 1.6033. Further rise should then be seen to 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, rejection by 1.6586 will maintain near term bearishness for another fall through 1.6033 later.

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 1.5803). 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 1.6458) 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) 1.6438; (P) 1.6468; (R1) 1.6521; More…

Intraday bias in EUR/AUD turned back to the upside with break of 1.6516 resistance. Further rally would be seen to 1.6677 resistance next. Break there will confirm that correction from 1.6742 has completed, and bring further rally through this high. On the downside, though, break of 1.6368 will resume the fall from 1.6742 instead.

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). The correction is probably still in progress with fall from 1.6742 as the third leg. Strong support is expected around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

Daily Pivots: (S1) 1.6620; (P) 1.6661; (R1) 1.6687; More…

EUR/AUD’s decline from 1.9799 resumes today with a break on 1.6597 cluster support zone. The development suggests that larger down trend might be resuming. Intraday bias is now on the downside for 1.6085 support next. On the upside, break of 1.6763 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will remain cautiously bearish in case of recovery.

In the bigger picture, focus stays on 1.6597 key cluster support, (2015 high and 38.2% retracement of 1.1602 to 1.9799 at 1.6668, 55 week EMA (now at 1.6548). Strong rebound from current level will retain medium term bullishness. Larger up trend from 1.1602 (2012 low) would extend through 1.9799 high. However, sustained break of 1.6597 will suggest bearish reversal and target 61.8% retracement at 1.4733.

Daily Pivots: (S1) 1.5911; (P) 1.5936; (R1) 1.5961; More…

Deeper fall could still be seen in EUR/AUD. But downside should be contained by 100% projection of 1.6785 to 1.6134 from 1.6513 at 1.5862, on loss of momentum as seen in 4H MACD. Break of 1.6101 support will indicate short term bottoming, and turn bias back to the upside for rebound.

In the bigger picture, a medium term is possibly in place at 1.6785 already, on bearish divergence condition in D MACD. Fall from there is seen as corrective whole up trend from 1.4281 (2022 low). Deeper decline is expected as long as 1.6513 resistance holds, to 38.2% retracement of 1.4281 to 1.6785 at 1.5828. Strong support could be seen there to complete the first leg of the corrective pattern.

Daily Pivots: (S1) 1.5662; (P) 1.5684; (R1) 1.5717; More…

Further decline is expected in EUR/AUD with 1.5762 minor resistance intact. Break of 1.5591 will resume larger down trend and target 61.8% projection of 1.6409 to 1.5591 from 1.5945 at 1.5439. On the upside, above 1.5762 minor resistance will delay the bearish case, and extend the consolidation from 1.5591 with another rise.

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 1.6827 resistance holds, even in case of strong rebound.

EUR/AUD edged lower to 1.5962 last week but continued to lose downside momentum ahead of 1.5894/5906 key support zone. Initial bias is neutral this week first. On the upside, break of 1.6071 minor resistance will indicate short term bottoming. intraday bias will be turned back to the upside for 1.6314 resistance. Nevertheless, decisive break of 1.5894/5906 will carry larger bearish implications.

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 1.6077) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

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 1.5894 remains intact. However, firm break of 1.5894 will be an early sign of major topping and turn focus to 1.5346 key support for confirmation.

Daily Pivots: (S1) 1.5385; (P) 1.5542; (R1) 1.5666; More…

Intraday bias in EUR/AUD is turned neutral first, as it recovered after dipping to 1.5414. On the downside, below 1.5414 will extend the fall form 1.5976 to 38.2% retracement of 1.4281 to 1.5976 at 1.5329. Nevertheless, on the upside, above 1.5739 minor resistance will suggest that the pull back has finished, and bring retest of 1.5976 high.

In the bigger picture, strong support from 55 week EMA affirms underlying bullishness. As long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. Decisive break there should confirm medium term bullish trend reversal.

EUR/AUD stayed in sideway trading above 1.6216 last week and outlook is unchanged. Initial bias remains neutral this week first and further decline is expected. Break of 1.6216 will resume the fall from 1.6742, as the third leg of the corrective pattern from 1.7062. Next target will be 1.6127 support, or further to 100% projection of 1.7062 to 1.6127 from 1.6742 at 1.5807. On the upside, however, break of 1.6381 resistance will bring stronger rebound.

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.

In the longer term picture, price actions from 1.9799 (2020 high) are seen as a long term decline at the same scale as the rise from 1.1602 (2012 low). Rebound from 1.4281 is seen as the second leg. As long as 55 M EMA (now at 1.5962) holds, this second leg could still extend higher. However, sustained trading below 55 M EMA will open up the bearish case for extending the decline through 1.4281 low.

Daily Pivots: (S1) 1.6633; (P) 1.6683; (R1) 1.6780; More…

Intraday bias in EUR/AUD stays on the upside for retesting 1.6785 high. Decisive break there will resume larger up trend to 1.7377 projection level next. On the downside, break of 1.6587 minor support will delay the bullish case and turn intraday bias neutral first.

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.

Daily Pivots: (S1) 1.6450; (P) 1.6591; (R1) 1.6667; More…

Intraday bias in EUR/AUD stays on the downside, as fall from 1.7062 is extending. Deeper decline would be seen to 1.6259 support. Break there will target 1.6000 fibonacci level. On the upside, above 1.6647 support turned resistance will turn intraday bias neutral first.

In the bigger picture, current development argues that fall from 1.7062 is probably correcting whole up trend from 1.4281. Deeper decline would be seen to 38.2 retracement of 1.4281 to 1.7062 at 1.6000. Strong support should be seen there to bring rebound, at least on first attempt.

Daily Pivots: (S1) 1.6450; (P) 1.6591; (R1) 1.6667; More…

Intraday bias in EUR/AUD is turned neutral with current recovery, and some consolidations could be seen. But risk will stay on the downside as long as 1.6793 resistance holds. Fall from 1.7062 is seen as a larger scale correction. Below 1.6452 will target 1.6000 fibonacci level.

In the bigger picture, current development argues that fall from 1.7062 is probably correcting whole up trend from 1.4281. Deeper decline would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support should be seen there to bring rebound, at least on first attempt.

Daily Pivots: (S1) 1.5781; (P) 1.5816; (R1) 1.5855; More….

EUR/AUD recovers ahead of 1.5773 support and intraday bias is turned neutral first. Consolidation pattern from 1.6189 could extend further. And break of 1.5773 cannot be ruled out But downside should be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.