Daily Pivots: (S1) 1.4827; (P) 1.4903; (R1) 1.4971; More….

At this point, deeper decline is mildly in favor in EUR/AUD for 1.4732 support. 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 resistance 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 will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.5332; (P) 1.5402; (R1) 1.5525; More….

EUR/AUD’s strong break of 1.5392 resistance confirms resumption of medium term rally from 1.3624. Intraday bias stays on the upside for 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. Break will target 100% projection at 1.6551, which is close to 1.6587 key resistance. On the downside, below 1.5443 minor support will turn intraday bias neutral and bring consolidations before staging another rally.

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) 1.4066; (P) 1.4118; (R1) 1.4156; More…

EUR/AUD is staying in range of 1.3872/4309 and intraday bias remains neutral. We’re holding on to the view of trend reversal after defending key support level at 1.3671. Another rise is expected as long as 1.3872 minor support holds. Break of 1.4309 will extend the rebound from 1.3624 to 1.4721 key resistance level next. Break should confirm larger trend reversal. However, firm break of 1.3872 support will dampen our bullish view. In such case, intraday bias will be turned back to the downside for 1.3624 low instead.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after testing 1.3671 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.

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 dipped to 1.5743 last week but recovered strongly since then. Initial bias remains neutral this week and we’d favor further rise ahead. On the upside, decisive break of 1.6060 resistance should confirm that decline from 1.6765 has completed. Further rally should then be seen to retest 1.6765 high. On the downside, however, 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) 1.5979; (P) 1.6007; (R1) 1.6041; More…

A temporary low is in place at 1.5945 and intraday bias in EUR/AUD is turned neutral first. Upside of recovery should be limited below 1.6231 resistance to bring another decline. Current fall from 1.6448 is seen as the third leg of the consolidation pattern from 1.6765 high. Break of 1.5945 will target 1.5683 support and below.

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 and turn outlook bearish.

Daily Pivots: (S1) 1.6499; (P) 1.6553; (R1) 1.6586; More…

Intraday bias in EUR/AUD remains neutral for the moment. Further rally would remain in favor as long as 1.6740 support holds. On the upside, above 1.6745 will argue that the pullback has completed, and turn bias back to the upside for retesting 1.7180. However, firm break of 1.6474 will dampen the bullish view and bring deeper pullback towards 1.5996 support.

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. This will now remain the favored case as long as 1.6474 support holds.

Daily Pivots: (S1) 1.6054; (P) 1.6072; (R1) 1.6096; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5996 continues. While another recovery cannot be ruled out, further decline is expected as long as 1.6211 resistance holds. Break of 1.5996 will resume larger fall to 1.5846 support 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) 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.

Daily Pivots: (S1) 1.6532; (P) 1.6562; (R1) 1.6598; More…

Range trading continues in EUR/AUD and intraday bias remains neutral. Near term outlook will stays 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.

Daily Pivots: (S1) 1.6054; (P) 1.6085; (R1) 1.6110; More…

Intraday bias in EUR/AUD remains on the downside for now, despite some loss of momentum as seen in 4H MACD. Current down trend should target 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950. On the upside, above 1.6125 minor resistance will turn intraday bias neutral and bring consolidations again, before staging another decline.

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) 1.5586; (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) 1.4940; (P) 1.4997; (R1) 1.5087; More…

Intraday bias in EUR/AUD is back on the upside as rebound from 1.4758 resumes. Further rally would be seen to retest 1.5277 resistance first. Break there will target 1.5354 support turned resistance next. On the downside, below 1.4966 minor support will turn intraday bias neutral again.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend from 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 back to 1.6434 key resistance.

EUR/AUD’s consolidation from 1.6262 continued last week and outlook is unchanged. Initial bias remains neutral this week first. We’d expect downside of consolidation to be contained by 38.2% retracement of 1.5683 to 1.6262 at 1.6041 to bring rise resumption. Correction from 1.6765 has completed with three waves down to 1.5683. On the upside, break of 1.6262 will pave the way to retest 1.6765 high. However, firm break of 1.6041 will dampen this view and bring deeper fall to 61.8% retracement at 1.5904.

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.

Daily Pivots: (S1) 1.5458; (P) 1.5527; (R1) 1.5567; More…

EUR/AUD’s fall resumed by breaking 1.5456 and intraday bias is back on the downside for 161.8% projection of 1.6434 to 1.5907 from 1.6232 at 1.5379 Break there will target 1.5250 low. Nevertheless, break of 1.5598 minor resistance will turn bias to the upside for stronger rebound to 55 day EMA (now at 1.5878).

In the bigger picture, with 38.2% retracement of 1.9799 to 1.5250 at 1.6988 intact, the down trend from 1.9799 (2020 high) is expected to resume at a later stage. Firm break of 1.5250 will target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. In any case, sustained break of 1.6988 fibonacci level is needed to indicate long term reversal.

Daily Pivots: (S1) 1.4149; (P) 1.4179; (R1) 1.4203; More…

No change in EUR/AUD’s outlook. At this point, there is no clear indication of resumption of larger decline yet. Above 1.4332 support turned resistance will turn bias back to the upside to extend recent sideway trading. Nonetheless, decisive break of 1.4072 low will extend the correction from 1.6587 towards next key support level 1.3671.

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 1.4880 resistance 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) 1.5662; (P) 1.5708; (R1) 1.5736; More…

Intraday bias in EUR/AUD remains on the downside for 1.5559 support. Break there should indicate that corrective rise from 1.5354 has completed in form of a three wave pattern. Further decline would then be seen back to 1.5250/5354 support zone. On the upside, above 1.5837 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 1.5250 low are seen as a corrective pattern. Further extension could be seen and another rise cannot be ruled out. But strong resistance should be seen at 38.2% retracement of 1.9799 to 1.5250 at 1.6988. Larger down trend from 1.9799 is in favor to extend through 1.5250 at a later stage.

Daily Pivots: (S1) 1.5694; (P) 1.5746; (R1) 1.5809; More…

Intraday bias in EUR/AUD remains neutral for the moment. Price actions from 1.5250 are seen as a consolidation pattern. Upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852 to bring down trend resumption. However, sustained break of 1.5852 will bring further rally back to 1.6033 support turned resistance.

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) 1.5514; (P) 1.5603; (R1) 1.5760; More…

EUR/AUD’s recovery from 1.5250 short term bottom could extend higher. But still, outlook stays bearish as long as 1.5945 resistance holds. Break of 1.5487 minor support will bring retest of 1.5250 low. However, firm break of 1.5945 will suggest that fall from 1.6827 has completed. Stronger rise would then be seen back to 1.6033 resistance turned support and above.

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.

EUR/AUD rose to as high as 1.5919 last week. The solid break of 1.5816 resistance confirmed medium term rise resumption. Initial bias remains on the upside this week for 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.

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 1.3671 should indicate long term reversal and target 1.1602 long term bottom again.

Daily Pivots: (S1) 1.6097; (P) 1.6132; (R1) 1.6165; More…

Intraday bias in EUR/AUD remains neutral for the moment and some consolidation could be seen above 1.6085 temporary low. Further decline is expected as long as 1.6256 support turned resistance holds. Below 1.6085 will target a test on 1.5962 support. Nevertheless, firm break of 1.6256 will turn bias to the upside for 1.6448 resistance.

In the bigger picture, EUR/AUD is still struggling in established range of 1.5905/6786. And it’s trying to draw support from 55 week EMA (now at 1.6113) again. For now, larger up trend from 1.1602 (2012 low) is still in favor to continue as long as 1.5962 support holds. Break of 1.6503 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488.