Daily Pivots: (S1) 1.4768; (P) 1.4855; (R1) 1.5025; More…

Intraday bias in EUR/AUD remains neutral and further rise is in favor with 1.4687 minor support intact. On the upside, break of 1.5053 will resume the rebound from 1.4318 to target 61.8% retracement of 1.6223 to 1.4318 at 1.5495. However, firm break of 1.4687 will argue that the rebound has completed and bring retest of 1.4318 low.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend form 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.

Daily Pivots: (S1) 1.5681; (P) 1.5724; (R1) 1.5788; More…

Intraday bias in EUR/AUD remains on the upside for the moment. As noted before, corrective fall from 1.5976 has completed at 1.5254. Decisive break of 1.5749 should pave the way to retest 1.5976 high. On the downside, below 1.5605 minor support will turn intraday bias neutral first.

In the bigger picture, it’s still early to confirm if rise from 1.4281 represents bullish trend reversal. But as long as 1.5271 support holds, such rally is in favor to continue. Break of 1.5976 will target 1.6434 key resistance next. On the other hand, firm break of 1.5271 will retain medium term bearishness instead.

Daily Pivots: (S1) 1.4290; (P) 1.4425; (R1) 1.4529; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current down trend should now target 1.3624 long term support next. On the upside, above 1.4559 minor resistance will turn intraday bias neutral and bring recovery. But outlook will stay bearish as long as 1.4940 resistance holds.

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.

Daily Pivots: (S1) 1.4533; (P) 1.4546; (R1) 1.4559; More…

Intraday bias in EUR/AUD remains neutral first, but further fall is expected. On the downside, break the 1.4508 will resume the decline from 1.5396 to retest 1.4318 low. Nevertheless, break of 1.4804 resistance will now turn bias back to the upside for stronger rebound.

In the bigger picture, down trend from 1.9799 is still in progress. Break of 1.4318 low will target 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). This will remain the favored case now as long as 1.5396 resistance holds.

Daily Pivots: (S1) 1.6661; (P) 1.6765; (R1) 1.6839; More…

EUR/AUD is still staying in tight range above 1.6538 and intraday bias remains neutral. On the upside, break of 1.7194 resistance should confirm short term bottoming. Stronger rise should then be seen to 38.2% retracement of 1.9799 to 1.6538 at 1.7784 next. On the downside, however, break of 1.6538 will indicate resumption of fall from 1.9799. More importantly, sustained trading below 1.6597 key support will carry larger bearish implication and target 1.5962 support next.

In the bigger picture, focus stays on 1.6597 key cluster support, (2015 high and 38.2% retracement of 1.1602 to 1.9799 at 1.6668, 55 week EMA (now at 1.6544). Strong rebound from current level will retain medium term bullishness. Larger up trend from 1.1602 (2012 low) would extend through 1.9799 high. However, sustained break of 1.6597 will suggest bearish reversal and target 61.8% retracement at 1.4733.

Daily Pivots: (S1) 1.6263; (P) 1.6325; (R1) 1.6433; More…

EUR/AUD’s break of 1.6343 resistance suggest short term bottoming at 1.6122. Intraday bias is turned back to the upside for 1.6827 resistance, to extend the consolidation pattern from 1.6033 with another rising leg. On the downside, break of 1.6122 will bring retest of 1.6033 low.

In the bigger picture, price action from 1.9799 are seen as developing into a corrective pattern. The question is whether it’s a sideway pattern or a deep correction. On the downside, sustained break of 1.6033 will suggest it’s the latter case and target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. On the upside, break of 1.6827 resistance will favor the former case and bring stronger rebound.

Daily Pivots: (S1) 1.4716; (P) 1.4801; (R1) 1.4872; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, below 1.4687 minor support will argue that rebound from 1.4318 has completed at 1.5053 already. Intraday bias will be back on the downside for retesting 1.4318 low. On the upside, break of 1.5053 will target 61.8% retracement of 1.6223 to 1.4318 at 1.5495.

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.

Daily Pivots: (S1) 1.6187; (P) 1.6213; (R1) 1.6232; More…

Intraday bias in EUR/AUD remains neutral and consolidation from 1.6262 might extend. In case of another fall, downside should be contained by 38.2% retracement of 1.5683 to 1.6262 at 1.6041 to bring rise resumption. Current development argues that correction from 1.6765 has completed with three waves down to 1.5683. On the upside, break of 1.6262 will target retest of 1.6765 high.

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, with bearish divergence condition in weekly MACD, and turn outlook bearish.

EUR/AUD’s up trend resumed last week and surged to as high as 1.6783. But as a temporary top was formed there. Initial bias remains neutral for consolidations. Downside of retreat should be contained by 1.6444 resistance turned support to bring rally resumption. On the upside, break of 1.6785 will resume larger up trend from 1.4281 to 100% projection of 1.4281 to 1.5976 from 1.5254 at 1.6949.

In the bigger picture, the solid break of 1.6434 resistance argues that whole down trend from 1.9799 (2020 high) has completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.

In the longer term picture, it’s still early to decide if rise from 1.4281 is resuming whole up trend from 1.1602 (2012 low). Attention will be paid on the structure on the current rally to make an assessment later.

Daily Pivots: (S1) 1.6142; (P) 1.6196; (R1) 1.6255; More…

EUR/AUD dived to 1.6134 but quickly formed a temporary low there and recovered. Intraday bias is turned neutral first. Considering bearish divergence condition in D MACD, fall from 1.6785 might be correction to whole up trend form 1.4281. Deeper decline is in favor as long as 1.6354 support turned resistance holds. Below 1.6134 will target 1.5254/5976 support zone. Nevertheless, break of 1.6354 will revive near term bullishness and turn bias back to the upside for rebound.

In the bigger picture, the solid break of 1.6434 resistance argues that whole down trend from 1.9799 (2020 high) has completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.

EUR/AUD’s strong rebound last week and break of 1.3900 resistance indicate short term bottoming at 1.3624, on bullish convergence condition in 4 hour MACD. Also, it’s an early sign on trend reversal as the cross defended 1.3671 key support level. Initial bias stays on the upside this week for 1.4289 resistance first. Break will confirm this affirm this case and target 1.4721 resistance for confirmation. On the downside, below 1.3835 minor support will dampen this bullish view and turn bias back 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.

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, break of 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

Despite another decline attempt, EUR/AUD rebound ahead of 1.6033 support. Initial bias remains neutral this week first and more consolidation could be seen. Still as long as 1.6772 resistance holds, further decline is expected. 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 1.5757) will further affirm this case and target 1.1602/3624 support zone.

EUR/AUD surged to as high as 1.6154 last week but lost momentum since then. With 4 hour MACD crossed below signal line, a temporary top is in place. Intraday bias is turned neutral for some consolidations first. But downside of retreat should be contained by 1.5887 resistance turned support to bring rise resumption. On the upside, above 1.6154 will extend the rebound from 1.5346 to retest 1.6357 high next. At this point, we’d be cautious on topping around there to bring pull back.

In the bigger picture, no change in the view that 1.6357 is a medium term top. But the strong rebound ahead of 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313) suggests price actions from 1.6357 are developing into sideway consolidation, rather than a deep correction. The range of 1.5271/6357 is likely set for the consolidation. And we don’t expect a break of the range any time soon. But decisive break of 1.6357 will resume the larger up trend from 1.3624 (2017 low) to 1.6587 (2015 high).

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 1.3624 key support should indicate long term reversal and target 1.1602 long term bottom again.

Range trading continued in EUR/AUD 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

Daily Pivots: (S1) 1.6128; (P) 1.6170; (R1) 1.6196; More….

Intraday bias in EUR/AUD is mildly on the downside for 1.6051. Correction from 1.6353 is still in progress and would likely extend through 1.6051 support. But still downside should be contained well above 1.5886 cluster support (61.8% retracement of 1.5601 to 1.6353 at 1.5888) to bring rise resumption. On the upside, above 1.6252 will target a retest on 1.6353. Break there will resume larger up trend and should target 1.6587 key resistance next.

In the bigger picture, up trend from 1.3624 (2017 low) is still in progress. Further rise should be seen to retest 1.6587 (2015 high). Decisive break there will resume the long term rally and target 1.7488 fibonacci level. On the downside, break of 1.5886 resistance turned support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.

Daily Pivots: (S1) 1.6050; (P) 1.6094; (R1) 1.6170; More…

Intraday bias in EUR/AUD remains mildly on the upside. Rebound from 1.5905 short term bottom is still in progress for 1.6308 support turned resistance first. Firm break there should confirm completion of whole fall from 1.6789 and target this resistance again. For now, in case of another decline, we’d continue to expect strong support from 1.5894 to contain downside to bring rebound. However, sustained break will carry larger bearish implications and target 1.5683 support 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 1.6008) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.4547; (P) 1.4694; (R1) 1.4787; More…

Break of 1.4687 support suggests that corrective rebound from 1.4318 has completed with three waves up to 1.5053. Intraday bias is back on the downside for retesting 1.4318. Firm break there will resume larger down trend. On the upside however, break of 1.5053 will resume the rebound from 1.4318 to target 61.8% retracement of 1.6223 to 1.4318 at 1.5495.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend form 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.

Daily Pivots: (S1) 1.5665; (P) 1.5723; (R1) 1.5772; More….

EUR/AUD is staying in consolidation from 1.5887 and intraday bias remains neutral. In case of another retreat, down side should be contained by 1.5596 support to bring rise resumption. On the upside, above 1.5887 will resume the rise from 1.5346 to 1.5984 resistance first. Decisive break there will pave the way to retest 1.6357 high. Nevertheless, break of 1.5596 will indicate completion of the rebound and turn bias back to the downside for retesting 1.5346 low.

In the bigger picture, no change in the view that 1.6357 is a medium term top. But the strong rebound ahead of 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313) suggests price actions from 1.6357 are developing into sideway consolidation, rather than a deep correction. The range of 1.5271/6357 is likely set for the consolidation. And we don’t expect a break of the range any time soon. But decisive break of 1.6357 will resume the larger up trend from 1.3624 (2017 low) to 1.6587 (2015 high).

Daily Pivots: (S1) 1.6239; (P) 1.6329; (R1) 1.6393; More…

EUR/AUD continues to stay in sideway consolidation from 1.6033 and intraday bias remains neutral first. Near term outlook will stay bearish as long as 1.6772 resistance holds and further decline is expected. On the downside, break of 1.6033 will resume whole decline from 1.9799 and target next support level at 1.5346. On the upside, though, break of 1.6772 will indicate short term bottoming and turn bias to the upside for 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 week remain the preferred case now as long as 1.7194 resistance holds.

Daily Pivots: (S1) 1.5655; (P) 1.5742; (R1) 1.5791; More….

EUR/AUD’s break of 1.5742 temporary low confirms fall resumption. Intraday bias is back on the downside. As noted before, prior break of 1.5984 support is taken as an early sign of medium term trend reversal. Fall from 1.6357 should now target 1.5601 key support first. Decisive break there will pave the way to 1.5271/5313 cluster support zone next. On the upside, break of 1.5853 minor resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. On the upside, break of 1.6357 is needed to confirm up trend resumption. Otherwise, risk will now stay on the downside even in case of strong rebound.