EUR/AUD’s rebound from 1.5907 continued last week despite some loss in upside momentum. Further rise is in favor as long as 1.5991 minor support holds, for retesting 1.6434 high. With 1.5898 support intact, larger rise from 1.5250 is still in progress, and break of 1.6434 will confirm resumption. On the downside, however, break of 1.5991 will turn bias back to the downside for 1.5898 structural support 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 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.

In the longer term picture, rise from 1.1602 (2012 low) should have already completed with three waves up to 1.9799 (2020 high). Fall from there is seen as a medium term to long term down leg as a long term down trend, or a sideway pattern. We’ll assess the odds again at a later stage.

Daily Pivots: (S1) 1.6075; (P) 1.6123; (R1) 1.6183; More…

As long as 1.5991 minor support holds, further rise is still mildly in favor in EUR/AUD, for retesting 1.6434 high. Break there will resume larger rise from 1.5250. However, on the downside, below 1.5991 minor support will turn bias back to 1.5898 key structural support 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 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.

Daily Pivots: (S1) 1.6088; (P) 1.6128; (R1) 1.6151; More…

EUR/AUD is losing some upside momentum as seen in 4 hour MACD. But with 1.5991 minor support intact, further is still in favor to retest 1.6434 high. Break there will resume larger rise from 1.5250. However, on the downside, below 1.5991 minor support will turn bias back to 1.5898 key structural support 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 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.

Daily Pivots: (S1) 1.6050; (P) 1.6095; (R1) 1.6170; More…

EUR/AUD’s break of 1.6116 resistance aruges that pull back from 1.6434 has completed after defending 1.5898 structural support. Larger rise from 1.5250 is still in progress. Intraday bias is back on the upside for retesting 1.6434 first. On the downside, below 1.5991 minor support will turn bias back to 1.5898 key structural support 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 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.

Daily Pivots: (S1) 1.5986; (P) 1.6031; (R1) 1.6067; More…

EUR/AUD’s rebound from 1.5907 extends higher today and focus is now on 1.6116 resistance. Firm break there will argue that pull back from 1.6434 has completed after defending 1.5898 structural support. Larger rise from 15250 is still in progress. Intraday bias will be turned back to the upside for retesting 1.6434 first. On the downside, however, firm break of 1.5898 will argue that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support next.

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.

Daily Pivots: (S1) 1.5987; (P) 1.6034; (R1) 1.6089; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.6116 will argue that pull back from 1.6434 has completed after defending 1.5898 structural support. Larger rise from 15250 is still in progress. Intraday bias will be turned back to the upside for retesting 1.6434 first. On the downside, however, firm break of 1.5898 will argue that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support next.

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 recovered ahead of 1.5898 support last week, but upside is limited below 1.6116 resistance so far. Initial bias remains neutral this week first. On the upside, break of 1.6116 will argue that pull back from 1.6434 has completed after defending 1.5898 structural support. Larger rise from 15250 is still in progress. Intraday bias will be turned back to the upside for retesting 1.6434 first. On the downside, however, firm break of 1.5898 will argue that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support next.

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.

In the longer term picture, rise from 1.1602 (2012 low) should have already completed with three waves up to 1.9799 (2020 high). Fall from there is seen as a medium term to long term down leg as a long term down trend, or a sideway pattern. We’ll assess the odds again at a later stage.

Daily Pivots: (S1) 1.5987; (P) 1.6034; (R1) 1.6089; More…

Intraday bias in EUR/AUD remains neutral and outlook is unchanged. On the upside, break of 1.6166 minor resistance will argue that pull back from 1.6434 has completed. That would also revive near term bullishness after defending 1.5898 structural support. Intraday bias will be turned back to the upside for retesting 1.6434 high. On the downside, however, sustained break of 1.5898 will indicate that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support first.

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.

Daily Pivots: (S1) 1.6003; (P) 1.6044; (R1) 1.6083; More…

Intraday bias in EUR/AUD stays neutral first. On the upside, break of 1.6166 minor resistance will argue that pull back from 1.6434 has completed. That would also revive near term bullishness after defending 1.5898 structural support. Intraday bias will be turned back to the upside for retesting 1.6434 high. On the downside, however, sustained break of 1.5898 will indicate that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support first.

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.

Daily Pivots: (S1) 1.5929; (P) 1.5954; (R1) 1.5985; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.6166 minor resistance will argue that pull back from 1.6434 has completed. That would also revive near term bullishness after defending 1.5898 structural support. Intraday bias will be turned back to the upside for retesting 1.6434 high. On the downside, however, sustained break of 1.5898 will indicate that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support first.

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.

Daily Pivots: (S1) 1.5929; (P) 1.5954; (R1) 1.5985; More…

Focus stays on 1.5898 structural support in EUR/AUD. Sustained break there will indicate that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 5614 support first. Break there will pave the way for retesting 1.5250 low. On the upside, break of 1.6116 resistance will revive near term bullishness and bring retest of 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 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.

Daily Pivots: (S1) 1.5891; (P) 1.5977; (R1) 1.6030; More…

Intraday bias in EUR/AUD remains on the downside for 1.5898 support first. Sustained break there will indicate that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for retesting 1.5250 low. On the upside, break of 1.6116 resistance will revive near term bullishness and bring retest of 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 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’s decline from 1.6434 short term top extended lower last week. Initial bias stays on the downside this week with focus on 1.5898 support. Sustained break there will indicate that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for retesting 1.5250 low. On the upside, break of 1.6116 resistance will revive near term bullishness and bring retest of 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 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.

In the longer term picture, rise from 1.1602 (2012 low) should have already completed with three waves up to 1.9799 (2020 high). Fall from there is seen as a medium term to long term down leg as a long term down trend, or a sideway pattern. We’ll assess the odds again at a later stage.

Daily Pivots: (S1) 1.6003; (P) 1.6048; (R1) 1.6088; More…

Intraday bias in EUR/AUD remains on the downside as fall from 1.6434 is in progress 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 1.6171 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.

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.

Daily Pivots: (S1) 1.6107; (P) 1.6151; (R1) 1.6189; More…

Intraday bias in EUR/AUD remains on the downside as fall from 1.6434 short term top is in progress. Deeper fall would be seen to 1.5898 structural support next. 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 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.

Daily Pivots: (S1) 1.6134; (P) 1.6163; (R1) 1.6198; More…

EUR/AUD’s fall from 1.6434 short term top is resuming after brief recovery. Intraday bias remains mildly on the downside for 1.5898 structural support first. 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 retain near term bullishness, and turn bias back to the upside for 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.

Daily Pivots: (S1) 1.6084; (P) 1.6175; (R1) 1.6226; More…

Intraday bias in EUR/AUD remains mildly on the downside at this point. Fall from 1.6434 short term top should target 1.5898 structural support first. 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 retain near term bullishness, and turn bias back to the upside for 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’s break of 1.6182 support turned resistance last week indicates short term topping at 1.6434 already. Initial bias is back on the downside for 1.5898 structural support first. 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, though, above 1.6263 minor resistance will retain near term bullishness, and turn bias back to the upside for 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.

In the longer term picture, rise from 1.1602 (2012 low) should have already completed with three waves up to 1.9799 (2020 high). Fall from there is seen as a medium term to long term down leg as a long term down trend, or a sideway pattern. We’ll assess the odds again at a later stage.

Daily Pivots: (S1) 1.6192; (P) 1.6218; (R1) 1.6264; More…

Intraday bias in EUR/AUD remains neutral and focus stays on 1.6182 resistance turned support. Decisive break of 1.6182 will bring deeper fall back to 1.5898 structure support. Rebound from current level will retain near term bullishness. Break of 1.6434 will resume larger rise from 1.5250 to 1.6827 resistance next.

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.