Daily Pivots: (S1) 1.5851; (P) 1.5947; (R1) 1.6099; More….

Intraday bias in EUR/AUD remains on the upside at this point. Current rise from 1.5346 is in progress for retesting 1.6357 high. At this point, we’d be cautious on topping around there to bring pull back. On the downside, break of 1.5887 resistance turned support is needed to indicate short term topping. Otherwise, near term outlook will remain bullish in case of retreat.

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) 1.6245; (P) 1.6280; (R1) 1.6336; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.6323 is extending. Further rise is in favor as long as 1.6202 minor support holds. On the upside, above 1.6323 will resume the rise from 1.5976 to 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.

EUR/AUD stayed in consolidation above 1.5774 last week and outlook is unchanged. Initial bias remains neutral this week first. With 1.6154 resistance intact, deeper fall is expected. On the downside, break of 1.5774 will resume the decline from 1.6765 and target 1.5346 key support next. On the upside, break of 1.6154 will argue that the pull back has completed. Intraday bias will then be turned 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. 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.

Daily Pivots: (S1) 1.4588; (P) 1.4630; (R1) 1.4696; More…

Intraday bias in EUR/AUD remains neutral as it’s bounded in range of 1.4421/4777. At this point, we’re still favoring the case that correction from 1.5226 could have completed with three waves down to 1.4421 already. Therefore, another rally is expected in the cross. Break of 1.4777 will turn bias to the upside for 1.5073 resistance first. Break there will indicate resumption of whole rise from 1.3624. However, break of 1.4221 will invalidate our view and extend the decline from 1.5226 to 61.8% retracement of 1.3624 to 1.5226 at 1.4236.

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 resume to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, further downside acceleration will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.6319; (P) 1.6352; (R1) 1.6380; More…

EUR/AUD’s corrective fall from 1.6786 might extend. But downside should be contained by 1.6247 resistance turned support to bring rise resumption. On the upside, above 1.6594 minor resistance will turn bias back to the upside for retesting 1.6786 resistance first. Break will resume larger up trend. However, firm break of 1.6247 will turn focus back to 1.5894 support instead.

In the bigger picture, outlook remains bullish as 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) 1.4149; (P) 1.4249; (R1) 1.4318; More…

Intraday bias in EUR/AUD remains on the downside for 1.4072 low. Break there will extend the correction from 1.6587 towards next key support level 1.3671.On the upside, above 1.4322 support turned resistance will turn bias neutral again.

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 of 1.6587 resistance first.

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Daily Pivots: (S1) 1.4952; (P) 1.5030; (R1) 1.5071; More….

Intraday bias in EUR/AUD remains neutral for consolidation inside range of 1.4791/5173. On the upside, break of 1.5173/5226 resistance zone will finally resume larger rise from 1.3624. 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.

Daily Pivots: (S1) 1.5520; (P) 1.5591; (R1) 1.5687; More…

EUR/AUD is staying in consolidation from 1.5747 and intraday bias remains neutral at this point. As long as 1.5271 support holds, further rally is expected. On the upside, firm break of 1.5747 will resume larger rally from 1.4281. Next target is 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

In the bigger picture, as long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. However, firm break of 1.5271 will argue that such rebound has completed, and keep medium term outlook neutral at best. But in this case, more range trading should be seen above 1.4281 low first.

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.

Daily Pivots: (S1) 1.6425; (P) 1.6465; (R1) 1.6517; More…

Sideway consolidations continue in EUR/AUD and intraday bias remains neutral at this point. As long as 1.6586 resistance holds, further decline and break of 1.6033 remains in favor. However, on the upside, sustained break of 1.6585 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) 1.6459; (P) 1.6527; (R1) 1.6659; More…

Intraday bias in EUR/AUD remains on the upside at this point. Current rise from 1.5962 should target 1.6786 high. On the downside, below 1.6469 minor support will turn intraday bias neutral and bring consolidation. But retreat should be contained above 1.6294 resistance turned support to bring rise resumption.

In the bigger picture, EUR/AUD drew support from 55 week EMA and rebounded strongly again. The development indicates that up trend from 1.1602 (2012 low) is still in progress. Further rise should be seen to 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. This will remain the favored case as long as 1.5962 support holds.

EUR/AUD’s sharp decline last week argues that rebound from 1.4421 is already completed at 1.5019. And, the corrective pattern from 1.5226 is still unfolding. Initial bias is neutral this week first with a temporary low in place at 1.4732. Below 1.4732 will bring another fall. But we’d expect 1.4421 cluster support (50% retracement of 1.3624 to 1.5226 at 1.4427) to hold and bring rebound. On the upside, above 1.5019 will target a test on 1.5226 high 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 fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 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.

Daily Pivots: (S1) 1.6301; (P) 1.6353; (R1) 1.6448; More…

Intraday bias in EUR/AUD stays on the upside and outlook is unchanged Correction from 1.0762 has possibly completed with three waves down to 1.5996, after hitting 1.6000 fibonacci support. Firm break of 1.6148 resistance will solidify this bullish case and target 1.6742 resistance next. On the downside, though, break of 1.6282 resistance turned support will dampen this bullish view and turn intraday bias neutral first.

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 1.6148 resistance will argue that the correction has completed, and the up trend is ready to resume through 1.7062.

Daily Pivots: (S1) 1.5816; (P) 1.5888; (R1) 1.5976; More…

With 1.5828 minor support intact, further rise is expected in EUR/AUD towards 1.6122 resistance. Decisive break there will confirm completion with corrective fall from 1.6765 at 1.5683. In this case, further rally should be seen back to retest 1.6765 high. On the downside, however, below 1.5828 minor support will turn bias back to the downside for 1.5683 instead.

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) 1.6440; (P) 1.6473; (R1) 1.6499; More…

Intraday bias in EUR/AUD is back on the downside as fall from 1.7180 resumes today. Sustained trading below 55 D EMA (now at 1.6435) will argue that rise from 1.5996 has completed at 1.7180. Deeper fall would then be seen back to this support. ON the upside, though, above 1.6580 resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, corrective fall from 1.7062 medium term top should have completed at 1.5996. Larger up trend from 1.4281 (2022 low) is resuming. Next target is 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. However, sustained break of 55 D EMA will dampen this bullish view and extend medium term range trading.

Daily Pivots: (S1) 1.5506; (P) 1.5532; (R1) 1.5564; More….

EUR/AUD is staying in consolidation from 1.5656 and intraday bias remains neutral. Downside of retreat should be contained by 4 hour 55 EMA (now at 1.5473) and bring rise resumption. Above 1.5656 will extend the rally from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. Nonetheless, sustained break of 4 hour 55 EMA will bring deeper fall back towards 1.5079 support instead.

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) 1.4323; (P) 1.4385; (R1) 1.4433; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, below 1.4322 will target 1.4702 low first. 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 of 1.6587 resistance first.

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Daily Pivots: (S1) 1.6575; (P) 1.6615; (R1) 1.6650; More…

Intraday bias in EUR/AUD remains neutral at this point as consolidation from 1.6692 is extending. Overall, further rally is expected as long as 1.6450 support holds. Current development suggests that whole correction from 1.7062 should have completed with three waves down to 1.6127. Break of 1.6692 will resume the rise from 1.6127 to 61.8% projection of 1.6127 to 1.6671 from 1.6450 at 1.6786 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.

Daily Pivots: (S1) 1.4741; (P) 1.4775; (R1) 1.4836; More…

EUR/AUD rebounds strongly after drawing support from 5 hour 55 EMA. But as it’s staying below 1.4909 temporary top, intraday bias remains neutral first. Overall outlook is unchanged as whole correction from 1.6587 has completed at 1.3624 already after defending 1.3671 key support level. Rise from 1.3624 is expected to continue. Hence, in case of another fall, downside should be contained by 1.4442/4649 support zone to bring rise resumption. Above 1.4909 will extend recent rally from 1.3624 to next medium term fibonacci level at 1.5455.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed after defending 1.3671 key support. Rise from 1.3642 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455 and above. In any case, outlook will now stay cautiously bullish as long as 1.4309 resistance turned support holds.

Daily Pivots: (S1) 1.6476; (P) 1.6596; (R1) 1.6738; More…

Intraday bias in EUR/AUD remains neutral for consolidation above 1.6453 temporary low. On the upside, firm break of 1.6763 resistance will suggests short term bottoming, and more importantly, successful defending of 1.6597 key support. Intraday bias will be turned back to the upside for retesting 1.7194 resistance first. On the downside, sustained trading below 1.6597 will carry larger bearish implication and target 1.6085 support next.

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.