Despite brief pull back, EUR/AUD’s rise from 1.4625 extended and hit as high as 1.5073. We’re holding on to the view that pull back from 1.5226 has completed at 1.4625. Further rise is expected this week as long as 1.4901 support holds, for 1.5226. Rise from 1.3624 is possibly resuming. Break of 1.5226 will confirm and target 1.5455 fibonacci level next. On the downside, however, break of 1.4901 minor support will dampen this bullish view and turn bias back to the downside.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4625 support will dampen this bullish view. In that case, we’ll assess the outlook later after looking at the structure and depth of the pull back.

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) 1.4953; (P) 1.5009; (R1) 1.5115; More…

EUR/AUD’s rise from 1.4625 resumed by taking out 1.4997 and reaches as high as 1.5074 so far. Intraday bias is back on the upside for 1.5226 resistance. Rise from 1.3624 is possibly resuming. Break of 1.5226 will confirm and target 1.5455 fibonacci level next. On the downside, however, break of 1.4901 minor support will dampen this bullish view and turn bias back to the downside.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4879; (P) 1.4922; (R1) 1.4969; More…

Intraday bias in EUR/AUD remains neutral at this point. Further rise is in favor with 1.4796 minor support intact. We’re holding on to the bullish view that pull back from 1.5226 has completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Above 1.4997 will turn bias back to the upside for 1.5226 first. However, firm break of 1.4796 will dampen this view and turn bias back to the downside for 1.4625 support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4822; (P) 1.4887; (R1) 1.4976; More…

Intraday bias in EUR/AUD remains neutral for the moment. Further rise is in favor with 1.4796 minor support intact. We’re holding on to the bullish view that pull back from 1.5226 has completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Above 1.4997 will turn bias back to the upside for 1.5226 first. However, firm break of 1.4796 will dampen this view and turn bias back to the downside for 1.4625 support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4811; (P) 1.4846; (R1) 1.4867; More…

Despite breaching 1.4813 support, EUR/AUD quickly recovered. Intraday bias is neutral first and we’re holding on to the bullish view. That is, pull back from 1.5226 has completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Above 1.4997 will turn bias back to the upside for 1.5226 first. However, firm break of 1.4813 will dampen this view and turn bias back to the downside for 1.4625 support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4817; (P) 1.4858; (R1) 1.4895; More…

Intraday bias in EUR/AUD remains neutral for the moment. With 1.4813 minor support intact, holds, we’re favoring the bullish case that pull back from 1.5226 has completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Above 1.4997 will turn bias back to the upside for 1.5226 first. However, break of 1.4813 will dampen this view and turn bias back to the downside for 1.4625 support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

EUR/AUD jumped to as high as 1.4997 last week but lost momentum there and retreated. Initial bias remains neutral this week. As long as 1.4813 minor support holds, we’re favoring the bullish case that pull back from 1.5226 has completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Above 1.4997 will turn bias back to the upside for 1.5226 first. However, break of 1.4813 will dampen this view and turn bias back to the downside for 1.4625 support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

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) 1.4853; (P) 1.4890; (R1) 1.4925; More…

A temporary top is in place at 1.4997 and intraday bias is turned neutral. Break of 1.4813 will argue that rebound from 1.4625 has completed and will turn bias back to the downside for this support. On the upside, above 1.4997 will target a test on 1.5226 high next.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4839; (P) 1.4918; (R1) 1.4971; More…

EUR/AUD lost some upside momentum a after hitting 1.4997. But intraday bias stays on the upside with 1.4813 minor support intact. As noted before, pull back from 1.5226 should have completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Further rally should be seen to retest 1.5226 next. On the downside, though, below 1.4813 resistance turned support will turn bias to the downside for 1.4625 again.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4767; (P) 1.4863; (R1) 1.5045; More…

Intraday bias in EUR/AUD remains on the upside as rebound from 1.4625 continues. Pull back from 1.5226 should have completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Further rally should be seen to retest 1.5226 next. On the downside, though, below 1.4813 resistance turned support will turn bias to the downside for 1.4625 again.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4714; (P) 1.4758; (R1) 1.4785; More…

EUR/AUD’s strong rise and break of 1.4813 indicates resumption of rebound from 1.4625. The development is in line with the view that pull back from 1.5226 has completed, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Intraday bias is turned back to the upside for retesting 1.5226 first. On the downside, below 1.4680 will turn bias back to the downside for 1.4625.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4714; (P) 1.4758; (R1) 1.4785; More…

EUR/AUD failed to sustain above 4 hour 55 EMA and retreated. As it’s staying above 1.4625 temporary low, intraday bias remains neutral first. On the upside, above 1.4813 will extend the rebound from 1.4625 to retest 1.5226 high next. However, sustained break of 38.2% retracement of 1.3624 to 1.5226 at 1.4614 will bring deep fall to 61.8% retracement at 1.4236 and possibly below.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4746; (P) 1.4775; (R1) 1.4815; More…

Outlook in EUR/AUD is unchanged. The pull back from 1.5226 might have completed after drawing support from 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Further rise would be seen to retest 1.5226 high next. However, sustained break of 1.4614 fibonacci level will pave the way to 61.8% retracement at 1.4236 and possibly below.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

EUR/AUD dropped further to 1.4625 last week and breached 1.4669 support. But the cross quickly recovered. The development argues that pull back from 1.5226 might have completed after drawing support from 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Initial bias is mildly on the upside for retesting 1.5226 high. However, sustained break of 1.4614 fibonacci level will pave the way to 61.8% retracement at 1.4236 and possibly below.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

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) 1.4743; (P) 1.4778; (R1) 1.4822; More…

The pull back from 1.5226 could have completed at 1.4625 after drawing support from 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Further rise is mildly in favor to retest 1.5226 high. However, sustained break of 1.4614 fibonacci level will pave the way to 61.8% retracement at 1.4236 and possibly below.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4709; (P) 1.4747; (R1) 1.4822; More…

EUR/AUD’s recovery argues that pull back from 1.5226 might be completed after drawing support from 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Intraday bias is turned back to the upside for retesting 1.5226 high. However, sustained break of 1.4614 fibonacci level will pave the way to 61.8% retracement at 1.4236 and possibly below.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4641; (P) 1.4673; (R1) 1.4721; More…

Further decline is mildly in favor in EUR/AUD as long as 1.4754 minor resistance holds. Break of 38.2% retracement of 1.3624 to 1.5226 at 1.4614 will pave the way to 61.8% retracement at 1.4236 and possibly below. Meanwhile, break of 1.4754 will indicate that the cross could have defended 1.4669 support. In that case, intraday bias will be turned back to the upside for retesting 1.5226 high.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4643; (P) 1.4699; (R1) 1.4727; More…

EUR/AUD’s fall from 1.5226 resumed after brief consolidation. The break of 1.4669 support argues that rise from 1.3624 is completed at 1.5226 already. Intraday bias is back on the downside. Break of 38.2% retracement of 1.3624 to 1.5226 at 4614 will pave the way to 61.8% retracement at 1.4236 and possibly below. On the upside, above 1.4754 minor resistance will turn bias neutral and bring recovery first.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.4664; (P) 1.4730; (R1) 1.4771; More…

No change in EUR/AUD’s outlook. We continue to expect strong support from 1.4669, near to 55 days EMA at 1.4689, to contain downside and bring rebound. Break of 1.4897 minor resistance will argue that pull back from 1.5226 has completed and turn bias back to the upside for retesting 1.5226 high first. However, sustained break of 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back to 1.4309 resistance turned support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

EUR/AUD’s pull back from 1.5226 extended lower last week and broke 38.2% retracement of 1.3980 to 1.5226 at 1.4750. It’s pressing 1.4669 support. At this point, we’re expecting strong support around 1.4669, near term 55 days EMA at 1.4685, to contain downside and bring rebound. Break of 1.4897 minor resistance will turn bias back to the upside for retesting 1.5226 high first. However, sustained break of 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back to 1.4309 resistance turned support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

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.