Thu, Jan 28, 2021 @ 08:59 GMT

EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.5813; (P) 1.5852; (R1) 1.5879; More….

EUR/AUD’s sharp decline and break of 1.5774 indicates resumption of fall from 1.6139. Intraday bias is back on the downside towards 1.5621 support. For now, price actions from 1.6189 are viewed as a corrective pattern. So strong support would be seen above 1.5621 to bring rebound. But break of 1.5887 resistance is needed to indicate near term reversal first. Otherwise, deeper fall is expected even in case of recovery. Meanwhile, decisive break of 1.5621 will carry larger bearish implications.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5813; (P) 1.5852; (R1) 1.5879; More….

EUR/AUD was rejected by 4 hour 55 EMA again but it’s staying above 1.5774 temporary low. Intraday bias remains neutral first. As noted before, consolidation pattern from 1.6189 is still unfolding. Deeper decline could be seen through 1.5773 support. But we’d expect downside to be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5815; (P) 1.5850; (R1) 1.5886; More….

Intraday bias in EUR/AUD remains neutral at this point. Consolidation pattern from 1.6189 is till unfolding. Deeper decline could be seen through 1.5773 support. But we’d expect downside to be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5781; (P) 1.5816; (R1) 1.5855; More….

EUR/AUD recovers ahead of 1.5773 support and intraday bias is turned neutral first. Consolidation pattern from 1.6189 could extend further. And break of 1.5773 cannot be ruled out But downside should be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.6139 extended lower to 1.5774 last week. As long as 1.5962 resistance holds, deeper fall is expected through 1.5773. Nonetheless, price actions from 1.6189 are viewed as a consolidation pattern. Therefore, downside should be contained above 1.5621 support to bring rebound. On the upside, above 1.5962 will turn bias to the upside for 1.6139 resistance and above.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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) 1.5785; (P) 1.5843; (R1) 1.5874; More….

EUR/AUD’s decline from 1.6139 resumed by taking out 1.5837 and reaches as low as 1.5774 so far. Intraday bias is back on the downside for further fall. But still, as price actions from 1.6189 are viewed as a consolidation pattern, downside should be contained above 1.5621 support to bring rebound. Above 1.5962 will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5854; (P) 1.5908; (R1) 1.5940; More….

EUR/AUD dips notably after failing to break through 1.5966 minor resistance. But it’s staying above 1.5837 support and intraday bias remains neutral. Price actions from 1.6189 are forming a corrective pattern. Below 1.5837 will extend the leg from 1.6139 and target 1.5773 support and below. But we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5863; (P) 1.5903; (R1) 1.5956; More….

Intraday bias in EUR/AUD remains neutral at this point. Price actions from 1.6189 are forming a corrective pattern. Below 1.5837 will extend the leg fro 1.6139 and target 1.5773 support and below. But we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5827; (P) 1.5871; (R1) 1.5903; More….

With a temporary low in place at 1.5837, intraday bias in EUR/AUD is turned neutral first. No change in the view that price actions from 1.6189 are forming a corrective pattern. Below 1.5837 will target 1.5773 and below. But we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 resistance.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5825; (P) 1.5875; (R1) 1.5906; More….

With 1.5966 minor resistance intact, further decline is expected in EUR/AUD to 1.5773 support and possibly below. Price actions from 1.6189 are viewed as a corrective pattern. Hence, we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 and then 1.6189 high.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Weekly Outlook

EUR/AUD’s decline from 1.6139 continued lower last week as expected. Initial bias remains on the downside this week for 1.5773 support and possibly below. But for now, price actions from 1.6189 are viewed as a corrective pattern. Hence, we’d expect strong support above 1.5621 to complete the pattern and bring rebound. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 and then 1.6189 high.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. Current rally from 1.3624 could extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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) 1.5881; (P) 1.5924; (R1) 1.5956; More….

Intraday bias in EUR/AUD remains on the downside for 1.5773 support and possibly below. Still, price actions from 1.6189 are seen as a consolidation pattern. Hence, downside should be contained above 1.5621 to bring rise resumption. On the upside, above 1.5966 support turned resistance will turn bias to the upside for 1.6139 and then 1.6189 high.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6003; (P) 1.6030; (R1) 1.6067; More….

EUR/AUD’s fall continues today and reaches as low as 1.5910 so far. Intraday bias remains on the downside for 1.5773 support and possibly below. For the moment, price actions from 1.6189 are seen as a consolidation pattern. Hence, downside should be contained above 1.5621 to bring rise resumption. On the upside, above 1.6055 minor resistance will turn bias to the upside for 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6003; (P) 1.6030; (R1) 1.6067; More….

EUR/AUD’s fall from 1.6139 is extending after brief consolidation. Intraday bias stays on the downside. Such decline is viewed as the third leg of the consolidation pattern from 1.6189. Further fall should be seen to 1.5773 support, or below. But downside should be contained above 1.5621 to bring rise resumption. On the upside, above 1.6055 minor resistance will turn bias to the upside for 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6003; (P) 1.6030; (R1) 1.6067; More….

No change in EUR/AUD’s outlook. Fall from 1.6139 is seen as the third leg of the consolidation pattern from 1.6189. Deeper decline could be seen back to 1.5773 support, and possibly below. But downside should be contained above 1.5621 to bring rise resumption. On the upside, above 1.6139 will target 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5955; (P) 1.6004; (R1) 1.6040; More….

Fall from 1.6139 is seen as the third leg of the consolidation pattern from 1.6189. Deeper decline could be seen back to 1.5773 support, and possibly below. But downside should be contained above 1.5621 to bring rise resumption. On the upside, above 1.6139 will target 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Weekly Outlook

EUR/AUD rebounded to 1.6139 last week but failed to break through 1.6189 resistance and reversed. Initial bias remains mildly on the downside this week for 1.5773 support, and possibly below. But for the moment, we’re viewing price actions from 1.6189 as developing into a consolidation pattern. Hence, downside should be contained above 1.5621 support to bring another rally. On the upside, above 1.6139 will target 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

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) 1.5986; (P) 1.6048; (R1) 1.6083; More….

The rebound from 1.5773 should have finished at 1.6139 already. Intraday bias is mildly on the downside for 1.5773 and possibly below. Nonetheless, as long as 1.5621 support holds, we’ll treat price actions from 1.6189 as a consolidation pattern and expect another rise through 1.6189. On the upside, above 1.6139 will target 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Mid-Day Outlook

Daily Pivots: (S1) 1.6053; (P) 1.6096; (R1) 1.6119; More….

EUR/AUD’s break of 1.6019 minor support suggests that rebound from 1.5773 is completed. Intraday bias is turned back to the downside for this support and possibly below. As long as 1.5621 support holds, we’ll treat price actions from 1.6189 as a consolidation pattern and expect another rise through 1.6189. On the upside, above 1.6139 will target 1.6189 high again.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal. On the downside, sustained break of 1.5621 support should confirm reversal and turn outlook bearish for 1.5153 support and below.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6053; (P) 1.6096; (R1) 1.6119; More….

EUR/AUD lost some upside momentum as seen in 4 hour MACD. But with 1.6015 minor support intact, further rise is mildly in favor to 1.6189 high. Firm break there will resume medium term rise from 1.3624 and target 1.6587 key resistance. On the downside, below 1.6019 minor support will turn focus back to 1.5773 instead.

In the bigger picture, while there is bearish divergence condition in daily MACD, there is no clear sign of reversal yet. EUR/AUD also drew strong support from 55 day EMA and rebounded. Current rally from 1.3624 could still extend to 1.6587 key resistance (2015 high). Nonetheless, we’d expect further loss of upside momentum, and strong resistance from 1.6587 to limit upside and bring reversal.