EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5567; (P) 1.5658; (R1) 1.5718; More

Intraday bias sin EUR/AUD is turned neutral first as it quickly lost momentum after breaching 1.5704. But for now, near term outlook will remain bullish as long as 1.5271 support holds, in case of retreat. Break of 1.5747 will resume larger rally to 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

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 1.5271 support is needed to indicate reversal. Otherwise, further rally will remain in favor.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6499; (P) 1.6588; (R1) 1.6633; More

Intraday bias in EUR/AUD is turned neutral first with current retreat. Some consolidations would be seen below 1.6671 temporary top. But further rally will remain in favor as long as 0.6318 support holds. Correction from 1.7062 should have completed with three waves down to 1.6127. Above 1.6671 will target 1.6844 resistance for confirmation.

In the bigger picture, fall from 1.7062 medium term top is seen as 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 bring rebound.

EUR/AUD Weekly Outlook

EUR/AUD continued to stay in sideway trading inside 1.6033/6772 last week. Outlook is unchanged and initial bias remains neutral this week first. Also, further decline is in favor with 1.6772 resistance intact. On the downside, firm break of 1.6033 will resume the decline from 1.9799 for next support level at 1.5346. On the upside, however, break of 1.6772 resistance 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.

In the longer term picture rise from 1.1602 (2012 low) could have already completed with three waves up to 1.9799. The development suggests that long term range trading is extending with another medium term down leg. Sustained trading below 55 month EMA (now at 1.5785) will further affirm this case and target 1.1602/3624 support zone.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5497; (P) 1.5550; (R1) 1.5619; More

EUR/AUD is staying in consolidation from 1.5747 and intraday bias stays neutral. 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 Daily Outlook

Daily Pivots: (S1) 1.5973; (P) 1.6014; (R1) 1.6085; More….

Intraday bias in EUR/AUD remains on the upside for further rally. Current should target 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. Break there will target 100% projection at 1.6444 next. On the downside, break of 1.5857 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

EUR/AUD Weekly Outlook

After some consolidations, EUR/AUD’s rally extended to as high as 1.6054 last week and closed strongly. Initial bias is back on the upside this week. Current rise would target 61.8% projection of 1.5130 to 1.5976 from 1.5621 at 1.6130 first. Break there will target 100% projection at 1.6444 next. On the downside, break of 1.5857 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.4799; (P) 1.4995; (R1) 1.5110; More

Intraday bias in EUR/AUD is turned neutral with current retreat. On the downside, break of 1.4759 support will suggest that rebound from 1.4318 has completed. Intraday bias will be turn back to the downside for retesting 1.4318 low. On the upside, above 1.5187 will target 1.5277 resistance and than 1.5354 support turned resistance next.

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 Daily Outlook

Daily Pivots: (S1) 1.6008; (P) 1.6100; (R1) 1.6149; More….

A temporary top is in place at 1.6189 in EUR/AUD. Intraday bias is turned neutral for consolidation. But another rise will be expected as long as 1.5857 support holds. Above 1.6189 will resume recent rise from 1.5153 to 100% projection of 1.5153 to 1.5976 from 1.5621 at 1.6444 next. However, break of 1.5857 will be an early sign of trend reversal and turn bias to the downside for 1.5621 support to confirm.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6216; (P) 1.6265; (R1) 1.6327; More

No change in EUR/AUD’s outlook as consolidation from 1.6033 is still extending. Intraday bias remains neutral for the moment. Outlook stays bearish as long as 1.6585 resistance holds. On the downside, break of 1.6033 will resume the whole fall from 1.9799, towards long term EMA at 1.5792. Nevertheless, on the upside, break of 1.6585 resistance should confirm short term bottoming and turn bias 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 55 month EMA (now at 1.5792). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.6586 resistance holds.

EUR/AUD Weekly Outlook

EUR/AUD stayed in range of 1.5550/5898 last week and outlook is unchanged. Initial bias remains neutral this week first. On the downside, break of 1.5559 will resume the fall from 1.6168 to retest 1.5250/5354 support zone. On the upside, however, break of 1.5898 will argue that pull back form 1.6168 has completed. Intraday bias will be back to the upside for 1.6168 resistance.

In the bigger picture, rise from 1.5354 is seen as the third leg of the corrective pattern from 1.5250 low. Further rise cannot be ruled out, but even in that case, 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.

In the longer term picture, fall from 1.9799 (2020 high) is seen as a long term down trend. Further decline will remain in favor as long as 38.2% retracement of 1.9799 to 1.5250 at 1.6988 holds. Break of 1.5250 will target 61.8 retracement of 1.1602 (2012 low) to 1.9799 at 1.4733

EUR/AUD Weekly Outlook

EUR/AUD’s up trend from 1.4281 resumed by breaking through 1.5976 and hit as high as 1.6188 last week. Initial bias stays on the upside this week for 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302 next. On the downside, below 1.6027 minor support will turn bias neutral and bring consolidations again first.

In the bigger picture, the strong support from 55 week EMA (now at 1.5396) is raising the chance of bullish trend reversal. Focus is now on 1.6434 cluster resistance (38.2% retracement of 1.9799 to 1.4281 at 1.6389). Sustained break there should confirm that whole down trend from 1.9799 (2020 high) has completed. Further rally should then be seen to 61.8% retracement at 1.7691. However, rejection by this cluster resistance will make medium term outlook neutral at best.

In the longer term picture, the strong break above 55 week EMA (now at 1.5616) now raising the chance of bullish trend reversal. Firm break of 1.6434 resistance should confirm that the down trend from 1.9799 has completed. It’s still early to decide if the up trend from 1.1602 (2012 low) is resuming. An assessment will be made after rise from 1.4281 reveals more of its structure.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6178; (P) 1.6204; (R1) 1.6238; More

EUR/AUD’s consolidation from 1.6294 is extending with another fall. Intraday bias remains neutral for the moment. Further rise is still expected as long as 1.5962 support holds. On the upside, break of 1.6314 will re-affirm medium term bullishness and target 1.6432 next.

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 1.6082) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.8300; (P) 1.8359; (R1) 1.8462; More

EUR/AUD surges to as high as 1.9799 so far today and there is no sign of topping yet. 1.8619 long term projection target was taken out without any hesitation. Intraday bias remains on the upside for 2.1127 (2008 high) next. On the downside, touching of 1.8820 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, up trend from 1.1602 (2012 low) is in progress and 100% projection of 1.1602 to 1.6597 from 1.3524 at 1.8619 is already met. Further rally would be seen to 2.1127 (2008 high) and possibly to 161.8% projection at 2.1706. On the downside, for now, touching of 1.6597 resistance turned support (2015 high), is needed to indicate medium term reversal. Otherwise, outlook will stay bullish even in case of deeper pull back.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6456; (P) 1.6492; (R1) 1.6554; More

EUR/AUD’s rebound from 1.6127 is in progress and intraday bias stays on the upside. Correction from 1.7062 should have completed with three waves down to 1.6127. Further rise should be seen to 1.6844 resistance for confirmation. On the downside, below 1.6456 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, fall from 1.7062 medium term top is seen as 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 bring rebound.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6272; (P) 1.6346; (R1) 1.6485; More..

Intraday bias in EUR/AUD is turned neutral with current recovery. But outlook remains bearish with 1.6478 resistance intact. Break of 1.6206 will resume larger decline from 1.7062. Next target is 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106.

In the bigger picture, fall from 1.7062 medium term top is seen as correcting the whole up trend from 1.4281 (2022 low). Deeper decline would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6043; (P) 1.6078; (R1) 1.6118; More

Intraday bias in EUR/AUD is neutral for consolidation above 1.6025 temporary low first. Upside of recovery should be limited below 1.6259 resistance to bring fall resumption. Decline from 1.6448 is now seen as the third leg of the consolidation pattern from 1.6765 high. Break of 1.6025 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.

EUR/AUD Weekly Outlook

EUR/AUD was rejected by 1.6586 resistance last and dropped sharply since then. Though, it’s staying well above 1.6033 support. Initial bias remains neutral this week and some more consolidations could still be seen. On the downside, firm break of 1.6033 will confirm resumption of whole fall from 1.9799. Deeper fall would then be seen to long term EMA at 1.5774. On the upside, break of 1.6586 resistance is needed to indicate reversal, otherwise, outlook will remain bearish in case of another recovery.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall could be seen to 55 month EMA (now at 1.5774). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.6586 resistance holds.

In the longer term picture rise from 1.1602 (2012 low) could have already completed with three waves up to 1.9799. The development suggests that long term range trading is extending with another medium term down leg. Sustained trading below 55 month EMA (now at 1.5774) will further affirm this case and target 1.1602/3624 support zone.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6474; (P) 1.6519; (R1) 1.6548; More..

Immediate focus is now on 1.6439 support in EUR/AD with current fall. Firm break there will argue that whole rebound from 1.6127 has completed, and turn near term outlook bearish for this support again. Nevertheless, strong rebound from current level, followed by break of 1.6561 minor resistance, will turn bias back to the upside for retesting 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) 1.6122; (P) 1.6178; (R1) 1.6233; More

EUR/AUD is still bounded in consolidation from 1.6033 and intraday bias remains neutral. Overall, as long as 1.6586 resistance holds, further decline is still expected. Break of 1.6033 will resume the down trend from 1.9799. Nevertheless, on the upside, break of 1.6585 resistance should turn bias 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 55 month EMA (now at 1.5792). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.6586 resistance holds.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5852; (P) 1.5907; (R1) 1.5945; More….

EUR/AUD drops to as low as 1.5848 today and breaches 1.5857 support. Intraday bias is cautiously on the downside now. Sustained break of 1.5857 will be an early sign of trend reversal and deeper fall should be seen to 1.5621 key support for confirmation. On the upside, above 1.5904 will indicate support from 1.5857 and turn bias neutral first.

In the bigger picture, the case for medium term reversal is building up in EUR/AUD. Bearish divergence condition in daily MACD indicates further look of upside momentum ahead of 1.6587 key resistance (2015 high). Break of 1.5621 should confirm medium term topping and bring deeper fall back to 1.5153 and possibly below. Meanwhile, even in case of up trend resumption, we’d be cautious on strong resistance from 1.6587 to limit upside and bring reversal.