Daily Pivots: (S1) 1.5820; (P) 1.5838; (R1) 1.5869; More…

EUR/AUD recovers strong after drawing support from 4 hour 55 EMA. Intraday bias is turned neutral first. At this point, we’re still slightly favoring the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, above 1.5959 affirm this week and target 1.6122 resistance for confirmation. On the downside, in case of another fall, downside should be contained above 1.5683 to bring rise resumption.

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) 1.5799; (P) 1.5842; (R1) 1.5882; More…

Intraday bias in EUR/AUD remains mildly on the downside for retesting 1.5683 low. At this point, we’re still slightly favoring the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. Thus, downside of current retreat should be contained above 1.5683 to bring rise resumption. On the upside, above 1.5959 will target 1.6122 resistance to confirm our bullish view.

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.

EUR/AUD’s strong rebound was limited by 1.5959 last week but was limited there. Near term outlook is mixed up by the deep retreat from there. Initial bias is mildly on the downside this week for retesting 1.5683 low. At this point we’re still slightly favoring the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. Thus, downside of current retreat should be contained above 1.5683 to bring rise resumption. On the upside, above 1.5959 will target 1.6122 resistance to confirm our bullish view.

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.

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) 1.5843; (P) 1.5888; (R1) 1.5912; More…

Intraday bias in EUR/AUD stays neutral for consolidation below 1.5959 temporary top. As long as 1.5828 minor support holds, further rise is expected. On the upside, above 1.5959 will target 1.6122 resistance first. 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) 1.5816; (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) 1.5769; (P) 1.5799; (R1) 1.5841; More…

EUR/AUD rebounds strongly to as high as 1.5959 so far today. The strong break of 1.5853 resistance firstly indicate short term bottoming at 1.5683, on bullish convergence condition in 4 hour MACD. Secondly, corrective fall from 1.6765 could have completed with three waves down to 1.5683 too. Intraday bias is back on the upside for 1.6122 resistance first. Break will pave the way back to 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) 1.5727; (P) 1.5759; (R1) 1.5805; More…

EUR/AUD recovered after hitting 1.5683 and intraday bias is turned neutral first. Near term outlook remains bearish as long as 1.5853 resistance holds. On the downside, break of 1.5683 will extend the fall from 1.6765 to 61.8% projection of 1.6765 to 1.5721 from 1.6122 at 1.5477. However, firm break of 1.5853 will suggests short term bottoming and bring stronger rise back to 1.6122 resistance.

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) 1.5690; (P) 1.5733; (R1) 1.5783; More…

Intraday bias in EUR/AUD remains on the downside at this point. The decline from 1.6765 has resumed this week. Further fall should be seen to 61.8% projection of 1.6765 to 1.5721 from 1.6122 at 1.5477. On the upside, break of 1.5853 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

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) 1.5682; (P) 1.5758; (R1) 1.5799; More…

EUR/AUD drops to as low as 1.5683 today. Break of 1.5721 support indicates resumption of decline from 1.6765. Intraday bias is back on the downside for 61.8% projection of 1.6765 to 1.5721 from 1.6122 at 1.5477. On the upside, break of 1.5853 resistance is needed to indicate short term bottoming. Otherwise, near term outlook will stay bearish in case of recovery.

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) 1.5735; (P) 1.5764; (R1) 1.5789; More…

EUR/AUD is staying in consolidation from 1.5721 and intraday bias remains neutral. In case of stronger recovery, upside should be limited by 1.6122 near term resistance. On the downside, decisive break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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) 1.5708; (P) 1.5781; (R1) 1.5826; More…

Intraday bias in EUR/AUD remains neutral for the moment. Consolidation from 1.5721 might extend further. But in case of another rise, upside should be limited by 1.6122 near term resistance. On the downside, decisive break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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.

EUR/AUD breached 1.5721 key support again last week but recovered quickly. There is no confirmation of decline resumption yet. Initial bias stays neutral this week for more consolidation. In case of another rise, upside should be limited by 1.6122 near term resistance. On the downside, decisive break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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.

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) 1.5737; (P) 1.5778; (R1) 1.5841; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5271 is extending. Stronger rebound could be seen. But upside should be limited by 1.6122 resistance to bring fall resumption. On the downside, sustained break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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) 1.5678; (P) 1.5757; (R1) 1.5801; More…

EUR/AUD breached 1.5721 key support but quickly recovered again. Intraday bias remains neutral first. Consolidation from 1.5721 might extend with another rise. But upside should be limited by 1.6122 resistance to bring fall resumption. On the downside, sustained break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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) 1.5768; (P) 1.5797; (R1) 1.5834; More…

EUR/AUD’s recovery was rejected by 4 hour 55 EMA again and intraday bias stays neutral. Consolidation from 1.5721 might extend with another rise. But upside should be limited by 1.6122 resistance to bring fall resumption. On the downside, sustained break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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) 1.5759; (P) 1.5802; (R1) 1.5839; More…

EUR/AUD’s recovery was rejected by 4 hour 55 EMA again and it weakens mildly. Still, it’s staying in consolidation pattern from 1.5721 and intraday bias remains neutral. Another rise cannot be ruled out. But upside should be limited by 1.6122 resistance to bring fall resumption. On the downside, sustained break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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) 1.5748; (P) 1.5782; (R1) 1.5813; More…

Intraday bias in EUR/AUD stays neutral and more consolidation could be seen above 1.5714. In case of stronger rise, upside should be limited by 1.6122 resistance to bring fall resumption. On the downside, sustained break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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.

EUR/AUD dropped further to 1.5714 last week but failed to sustain below 1.5721 low and recovered. Initial bias is neutral this week first. More sideway trading could be seen. But in case of strong recovery, upside should be limited by 1.6122 resistance to bring fall resumption. On the downside, sustained break of 1.5721 will resume the decline from 1.6765 to 1.5346 key support next.

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.

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) 1.5747; (P) 1.5780; (R1) 1.5806; More…

Intraday bias in EUR/AUD remains neutral for the moment. Consolidation from 1.5721 might extend further with another rise. But upside should be limited by 1.6122 resistance to bring fall resumption eventually. On the downside, decisive break of 1.5271 will resume the fall from 1.6765 and target 1.5346 support next.

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.

Daily Pivots: (S1) 1.5744; (P) 1.5812; (R1) 1.5863; More…

Intraday bias in EUR/AUD remains neutral first. Consolidation from 1.5721 might extend further with another rise. But upside should be limited by 1.6122 resistance to bring fall resumption eventually. On the downside, decisive break of 1.5271 will resume the fall from 1.6765 and target 1.5346 support next.

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.