EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5587; (P) 1.5633; (R1) 1.5691; More….

No change in EUR/AUD’s outlook. With 1.5458 support intact, outlook remains bullish for further rally. . Medium term rise from 1.3624 should target 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. However, firm break of 1.5458 will now indicate near term topping and should bring pull back towards 55 day EMA (now at 1.5247).

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).

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.4933; (P) 1.4976; (R1) 1.5024; More

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, firm break of 1.4934 minor support will confirm short term topping, on bearish divergence condition in 4 hour MACD, after hitting 1.5094 key resistance. In that case, deeper pull back would be seen to 55 day EMA (now at 1.4570). Meanwhile, sustained break of 1.5094 resistance will extend the 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 at 1.3624 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6032; (P) 1.6067; (R1) 1.6111; More

EUR/AUD is staying in consolidation from 1.6128 and intraday bias remains neutral first. Still, near term outlook stays bullish as long as 1.5773 support holds. On the upside, break of 1.6128 will resume the rise from 1.5250, as a correction to fall from 1.9799, to 1.6827 resistance next.

In the bigger picture, current development argues that a medium term bottom is formed at 1.5250, on bullish convergence condition in daily MACD. Rise from 1.5250 is seen as a correction to the down trend from 1.9799 first. Stronger rise would be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. This will remain the favored case for now, as long as 1.5614 support holds.

EUR/AUD Daily Outlook

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6491; (P) 1.6528; (R1) 1.6558; More

Range trading continues in EUR/AUD and intraday bias remains neutral. On the downside, decisive break of 1.6450 support will argue that whole rebound from 1.6127 has completed with three waves up to 1.6742 already. Near term outlook will be turned bearish for 1.6127 again, to extend the whole corrective pattern from 1.7062. Nevertheless, strong rebound from current level, followed by break of 1.6606 minor resistance, will retain near term bullishness and bring retest of 1.6742.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5304; (P) 1.5351; (R1) 1.5416; More….

Intraday bias in EUR/AUD remains neutral at this point. On the upside, break of 1.5446 resistance will revive the case that correction from 1.5770 has completed at 1.5153. In that case, intraday bias will be turned back to the upside for retesting 1.5770 first. However, break of 1.5153 will resume the fall from 1.5770 to 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950).

In the bigger picture, price actions from 1.5770 so far suggests that it’s corrective in nature. That is, medium term rise from 1.3624 is not completed yet. Break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, sustained break of 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950) will indicate medium term reversal. And there is prospect of retesting 1.3624 low in that bearish case.

EUR/AUD Daily Outlook

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5507; (P) 1.5538; (R1) 1.5595; More

EUR/AUD is staying in consolidation from 1.5250 and intraday bias remains neutral. On the upside, break of 1.5672 will bring stronger rebound. But upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, below 1.5423 should bring retest of 1.5250 low. Overall, down trend from 1.9799 is expected to resume after consolidation from 1.5250 completes.

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 Daily Outlook

Daily Pivots: (S1) 1.5132; (P) 1.5159; (R1) 1.5210; More….

The break of 1.5173 resistance suggests that EUR/AUD’s rise from 1.4421 is finally resuming. Intraday bias is back on the upside for 1.5226 key resistance next. Break there will also resuming the medium term rally from 1.3624. In that case, EUR/AUD should target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 first. Break will target 100% projection at 1.6023 next. On the downside, below 1.5108 minor support will mix up the outlook and turn intraday bias neutral first.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5945; (P) 1.6056; (R1) 1.6132; More

Intraday bias in EUR/AUD remains neutral at this point. On the upside, above 1.6232 will resume the rebound from 1.5907 to retest 1.6434 high. Overall, rise from 1.5250 is still in favor to continue as long as 1.5898 support holds. However, sustained break of 1.5898 will argue that whole rise from 1.5250 has completed, and turn near term outlook bearish.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise could be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5898 support will indicate that the rebound has completed. Larger down trend from 1.9799 might be ready to resume through 1.5250 low.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.4965; (P) 1.4995; (R1) 1.5015; More

Intraday bias in EUR/AUD is neutral for consolidation below 1.5073 minor support. With 1.4796 minor support intact, further rally is mildly in favor. Above 1.5073 will target 1.5226 resistance first. Break there will confirm resumption of whole rally from 1.3624. In such case, EUR/AUD would target 1.5455 fibonacci level next. However, break of 1.4796 will turn bias back to the downside for 1.4625 support instead.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5651; (P) 1.5683; (R1) 1.5740; More….

At this point, EUR/AUD is still bounded in range below 1.5816 and intraday bias stays neutral. With 1.5606 support intact, near term outlook remains bullish for further rally. On the upside, break of 1.5816 should now confirm resumption of medium term rise from 1.3264. In that case, EUR/AUD should target 1.6587 key long term resistance. Meanwhile, firm break of 1.5606 will argue that a short term top is formed. Intraday bias will be turned back to the downside for 55 day EMA (now at 1.5531) and below.

In the bigger picture, medium term rise from 1.3624 is not completed yet. Sustained break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, break of 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950) will indicate medium term reversal. And there is prospect of retesting 1.3624 low in that bearish case.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5476; (P) 1.5514; (R1) 1.5543; More….

EUR/AUD’s rally resumed after brief consolidation and reaches as high as 1.5623 so far. Intraday bias is back on the upside. Current medium term rally from 1.3624 should target 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, break of 1.5483 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

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).

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.3849; (P) 1.3949; (R1) 1.4017; More

EUR/AUD’s pull back from 1.4183 extended lower but it’s still holding on to 1.3874 support. Intraday bias remains neutral first. At this point, we’re still favoring the case of medium term trend reversal defending key support level at 1.3671, on bullish convergence condition in daily MACD. Above 1.4183 will turn bias back to the upside for 1.4289 resistance. Sustained break there will affirm our bullish view and target 1.4721 key resistance next. However, break of 1.3874 will dampen our view and turn bias to the downside for 1.3624 low.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and turn outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6033; (P) 1.6093; (R1) 1.6130; More

EUR/AUD’s fall from 1.6434 is still in progress and intraday bias stays on the downside for 1.5898 support. Sustained break there will argue that choppy rise from 1.5250 has completed already. Outlook will be turned bearish for retesting 1.5250 low. On the upside, however, above 1.6263 minor resistance will revive near term bullishness, and turn bias back to the upside for retesting 1.6434 high instead.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise would be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5898 support will indicate that the rebound has completed and bring retest of 1.5250 low.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5524; (P) 1.5583; (R1) 1.5638; More

Intraday bias in EUR/AUD remains neutral as consolidation pattern from 1.5250 is still extending. In case of another rise, upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, break of 1.5234 will bring retest of 1.5250 low. Overall, down trend from 1.9799 is expected to resume after consolidation from 1.5250 completes.

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 Daily Outlook

Daily Pivots: (S1) 1.4971; (P) 1.5002; (R1) 1.5053; More….

Deeper fall is expected in EUR/AUD as long as 1.5101 minor resistance holds. As noted before, consolidation pattern from 1.5226 is still unfolding with fall from 1.5241 as the third leg. Break of 1.4945 will affirm this case and send EUR/AUD through 1.4791 to 1.4421 support cluster support (50% retracement of 1.3624 to 1.5226 at 1.4425). We’d expect strong support from there to bring rebound. On the upside, though, above 1.5101 will turn focus back to 1.5241 instead.

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. Sustained trading 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.

EUR/AUD Daily Outlook

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5413; (P) 1.5482; (R1) 1.5563; More

EUR/AUD is extending the corrective pattern from 1.5704 and intraday bias stays neutral. If case of another fall, downside should be contained by 55 day EMA (now at 1.5265) to bring rebound. On the upside, 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.

EUR/AUD Weekly Outlook

EUR/AUD rose further to as high as 1.4964 last week but retreated since then. A temporary top is in place and initial bias is neutral this week for consolidation first. Outlook remains bullish as long as 1.4777 resistance turned support holds. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Above 1.4964 will target 1.5073 resistance first. Break of 1.5073 will likely resume the rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 next. However, firm break of 1.4777 will dampen this bullish view and turn bias to the downside for 1.4564 support. Break will extend the correction from 1.5226 through 1.4421.

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, another decline 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.