EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6012; (P) 1.6048; (R1) 1.6091; More….

EUR/AUD’s fall from 1.6189 extends lower today but it’s kept above 1.5857 support. Another rise is still expected in EUR/AUD. Above 1.6084 minor resistance will turn bias back to the upside for 1.6189 first. Break will resume the whole rally from 1.5153 and target 1.6587 key resistance. Nonetheless, 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) 1.7048; (P) 1.7171; (R1) 1.7240; More

EUR/AUD is staying in tight range above 1.7003 and intraday bias remains neutral first. On the downside, break of 1.7003 will extend the fall from 1.9799 to 1.6085/6593 support zone. On the upside, though, break of 1.7350 minor resistance will suggest short term bottoming. Intraday bias will be turned back to the upside for stronger rebound.

In the bigger picture, up trend from 1.1602 (2012 low) is in progress and further rally would be seen to 2.1127 (2008 high) and possibly to 161.8% projection of 1.1602 to 1.6597 from 1.3524 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 deep pull back.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6337; (P) 1.6398; (R1) 1.6470; More

EUR/AUD is trying to resume the rebound from 1.6127 by breaking 1.6398. Intraday bias is mildly on the upside for 1.6478 resistance. Firm break there will argue that whole correction from 1.7062 has completed, and target 1.6844 resistance for confirmation. Nevertheless, break of 1.6278 minor support will turn bias back to the downside for retesting 1.6127 low.

In the bigger picture, fall from 1.7062 medium term top is seen as correction to the up trend from 1.4281 (2022 low). Strong support should be seen around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 bring rebound. Break of 1.6844 will argue that this up trend is ready to resume through 1.7062 high.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5907; (P) 1.5955; (R1) 1.6038; More….

EUR/AUD is staying in range below 1.6039 and intraday bias remains neural first. More consolidation could be seen. But still, further rise is expected as long as 1.5791 support holds. Break of 1.6039 will resume larger rally to 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. However, break of 1.5791 minor support will be an early sign of near term reversal. In such case, focus will be turned back to 1.5621 support.

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 1.5153 support is needed to indicate medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6417; (P) 1.6469; (R1) 1.6501; More

EUR/AUD failed to break through 1.6586 resistance as consolidation from 1.6033 extends. Intraday bias remains neutral first. As long as 1.6586 resistance holds, further decline and break of 1.6033 remains in favor. However, on the upside, sustained break of 1.6585 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5628; (P) 1.5658; (R1) 1.5694; More

With 1.5762 minor resistance intact, further fall is expected in 1.5591 support. Firm break there will resume larger down trend and target 61.8% projection of 1.6409 to 1.5591 from 1.5945 at 1.5439. On the upside, above 1.5762 minor resistance will delay the bearish case, and extend the consolidation from 1.5591 with another rise.

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 1.6827 resistance holds, even in case of strong rebound.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5621; (P) 1.5684; (R1) 1.5728; More

EUR/AUD is losing some upside momentum but further rise is still in favor as long as 1.5585 minor support holds. Sustained break of 55 day EMA (now at 1.5764) will argue that whole fall from 1.6434 has completed and bring stronger rally. On the downside, however, below 1.5585 minor support will turn bias back to the downside for 1.5354. Break there will target a test on 1.5250 low.

In the bigger picture, the down trend from 1.9799 (2020 high) is in progress. Firm break of 1.5250 low will confirm resumption and target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. Sustained break there could bring more downside acceleration to 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623. In any case, break of 1.6434 resistance is needed to signal medium term bottoming, or outlook will stay bearish.

EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.5327 continued last week and hit as low as 1.4591. In spite of diminishing downside momentum, initial bias stays on the downside this week for 1.4561 support. Decisive break there will resume larger down trend from 1.9799. Next target is 1.3623 projection level. On the upside, above 1.4804 minor resistance will delay the bearish case, and turn bias back to the upside for another recovery first.

In the bigger picture, fall from 1.9799 is seen as a long term impulsive move. 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). Some support could be seen there to bring interim rebound. But overall, break of 1.5354 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the longer term picture, fall from 1.9799 (2020 high) is seen as the third leg of the pattern from 2.1127 (2008 high). Deeper fall should be seen to 1.3624 support. Decisive break there would pave the way back to 1.1602 (2012 low).

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5849; (P) 1.5892; (R1) 1.5925; More….

With 1.5786 minor support intact, further rise is expected in EUR/AUD for 61.8% projection of 1.5258 to 1.5816 from 1.5626 at 1.5971. Break there target 100% projection at 1.6184. On the downside, break of 1.5786 will rise the chance of near term reversal and turn bias to the downside for 1.5626 support.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6477; (P) 1.6523; (R1) 1.6564; More

Intraday bias in EUR/AUD remains neutral for the moment, as consolidation from 1.6671 is extending. Further rise is expected as long as 1.6398 support holds. Corrective fall from 1.7062 should have completed with three waves down to 1.6127 already. Above 1.6671 will target 1.6844 resistance to confirm this bullish case.

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 to bring rebound.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6208; (P) 1.6285; (R1) 1.6348; More

EUR/AUD rebounded ahead of 1.6216 support but stays below 1.6444. Intraday bias remains neutral first. On the upside, decisive break of 1.6434 resistance will carry larger bullish implications. Rally from 1.4281 should target 100% projection of 1.4281 to 1.5976 from 1.5254 at 1.6949. However, considering bearish divergence condition in 4H MACD, firm break of 1.6216 should confirm short term topping, after rejection by 1.6389/6434 cluster resistance zone. Intraday bias will be back on the downside in this case, to 1.6033 support and possibly below.

In the bigger picture, focus stays on 1.6389/6434 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5888; (P) 1.5964; (R1) 1.6006; More….

EUR/AUD formed a temporary top at 1.6039 and retreated since then. Intraday bias is turned neutral first. But further rally is still expected in the cross. Above 1.6039 will resume the larger rise to 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. However, break of 1.5791 minor support will be an early sign of near term reversal. In such case, focus will be turned back to 1.5621 support.

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 1.5153 support is needed to indicate medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6419; (P) 1.6453; (R1) 1.6495; More

Intraday bias in EUR/AUD remains neutral first. On the downside, firm break of 1.6368 support will revive that case that rebound from 1.6127 has completed at 1.6742. Fall from there is seen as the third leg of the pattern from 1.7062. Deeper decline would then be seen to 1.6127 support and below.

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 another 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6012; (P) 1.6048; (R1) 1.6091; More….

EUR/AUD is still bounded in consolidation pattern from 1.6189 and intraday bias remains neutral first. Deeper retreat might be seen. But outlook will stay bullish as long as 1.5857 support holds. On the upside, break of 1.6189 will resume the whole rally from 1.5153 and target 1.6587 key resistance. Nonetheless, 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) 1.5628; (P) 1.5692; (R1) 1.5731; More….

Intraday bias in EUR/AUD remains neutral at this point. On the upside, sustained break of 1.5773 will indicate that whole decline from 1.6189 has completed with three waves down to 1.5271 already. And retest of 1.6189 should be seen next. On the downside, break of 1.5617 minor support will turn bias to the downside for 1.5425. Break there will confirm completion of rebound from 1.5271 and target this low again.

In the bigger picture, focus is back on 1.5773 support turned resistance with the current strong rebound. Firm break there will argue that medium term rise from 1.3624 (2017 low) is not completed yet. Further break of 1.6189 will target 1.6587 key resistance (2015 high). Though, rejection by 1.5773 will revive the case of bearish trend reversal and target 61.8% retracement of 1.3624 to 1.6189 at 1.4604.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6535; (P) 1.6603; (R1) 1.6721; More

EUR/AUD’s rally continues today and reaches as high as 1.6739 so far. Intraday bias remains on the upside for 38.2% retracement of 1.9799 to 1.6033 at 1.7472. Reaction from there will reveal whether current rebound is just correcting the fall from 1.9799 to 1.6033, or reversing it. On the downside, below 1.6630 minor support will turn intraday bias neutral first. But near term outlook should stay bullish as long as 1.6337 support holds.

In the bigger picture, EUR/AUD is now back above 55 day EMA (now at 1.6463) with current rebound. The development argues that price actions form 1.9799 might be developing into a sideway pattern only. That is, medium term outlook is just neutral, and up trend from 1.1602 (2012 low) could resume at a later stage. On the downside, though, sustained trading below 55 week EMA would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5996; (P) 1.6018; (R1) 1.6054; More….

EUR/AUD is staying in consolidation below 1.6189 temporary top. Intraday bias remains neutral at this point. Further rally is expected as long as 1.5857 minor support holds. On the upside, break of 1.6189 will resume the whole rally from 1.5153 and target 1.6587 key resistance. Nonetheless, 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) 1.6829; (P) 1.6925; (R1) 1.6983; More

While EUR/AUD’s retreat from 1.7062 extends lower, downside is contained above 1.6737 support so far. Intraday bias remains neutral and outlook stays bullish for now. On the upside, firm break 1.7062 will resume larger up trend from 1.4281 to 1.7377 projection level.

In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will stay bullish as long as 1.5846 support holds, even in case of another pull back.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5630; (P) 1.5706; (R1) 1.5773; More….

Intraday bias in EUR/AUD remains neutral at this point. On the downside, decisive break of 1.5626 near term support will firstly resume the fall from 1.5976. Secondly, that will also raise the odds of larger reversal. Deeper fall should then be seen to 61.8% retracement of 1.5153 to 1.5976 at 1.5467 and below. However, on the upside, break of 1.5787 minor resistance will indicate completion of the pull back from 1.5976. And, intraday bias will be turned back to the upside for retesting 1.5976 high instead.

In the bigger picture, change of medium term reversal is increasing with EUR/AUD just missing double projection target. They are 61.8% projection of 1.4421 to 1.5770 from 1.5153 at 1.5987, and 100% projection of 1.3624 to 1.5226 from 1.4421at 1.6023. Also, bearish divergence condition remains in daily MACD. Break of 1.5626 support will add to this bearish case and target 1.5153 key support for confirmation. Nonetheless, before that happens, as long as 1.5153 support holds, medium term rise from 1.3624 could still extend to retest 1.6587 high.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6158; (P) 1.6185; (R1) 1.6215; More

Intraday bias in EUR/AUD stays neutral for consolidations first. On the downside, break of 1.6122 will target a rest on 1.6033 low. Decisive break there will resume larger down trend from 1.9799. On the upside, however, firm break of 1.6343 resistance will now suggest short term bottoming and turn bias back to the upside for stronger rebound.

In the bigger picture, current development suggests that price actions form 1.9799 might be developing into a sideway pattern only. That is, medium term outlook is just neutral, and up trend from 1.1602 (2012 low) could resume at a later stage. On the downside, though, sustained trading below 55 week EMA (now at 1.6433) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.