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.

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) 1.6228; (P) 1.6288; (R1) 1.6335; More…

Intraday bias in EUR/AUD remains neutral as consolidation form 1.6448 is extending. Deeper pull back could be seen but downside should be contained above 1.6052 support to bring rise resumption. On the upside, break of 1.6448 will resume the rally from 1.5683 and target 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 and turn outlook bearish.

Daily Pivots: (S1) 1.5360; (P) 1.5416; (R1) 1.5453; More…

Intraday bias in EUR/AUD stays neutral and outlook is unchanged. On the downside, firm break of 1.5254/71 will carry larger bearish implication and resume the fall from 1.5976. On the upside, above 1.5650 will resume the rebound to 1.5749 resistance.

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) 1.6693; (P) 1.6731; (R1) 1.6776; More…

EUR/AUD’s up trend from 1.4281 resumed by breaking through 1.6785 resistance and intraday bias is back on the upside. Further rally should be seen to 1.7377 projection level next. Meanwhile, near term outlook will now remain bullish as long as 1.6635 support holds, in case of retreat.

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.

While EUR/AUD dropped notably last week, downside is contained well above 1.5254/71 support zone. Initial bias stays neutral first. On the downside, firm break of 1.5254/71 will carry larger bearish implication and resume the fall from 1.5976. On the upside, above 1.5650 will resume the rebound to 1.5749 resistance.

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.

In the longer term picture, focus stays on 55 month EMA (now at 1.5595). Sustained trading above there will raise the chance of bullish trend reversal, and at least bring further rally to 1.6434 cluster resistance, 38.2% retracement of 1.9799 (2020 high) to 1.4281 at 1.6389. However, rejection by 55 month EMA will suggest that down trend from 1.9799 is still in progress for another low below 1.4281.

EUR/AUD failed to break through 1.6308 support turned resistance and turned into sideway consolidation last week. Initial bias remains neutral this week first. With 1.6128 minor support intact, further rise remains in favor. Firm break of 1.6308 should confirm completion of whole fall from 1.6789 and target this resistance again. On the downside, break of 1.6128 minor support will turn bias back to the downside for retesting 1.5894 key support instead.

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 1.6024) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress for 61.8% retracement of 2.1127 to 1.1602 at 1.7488. This will remain the favored case as long as 1.5894 remains intact. However, firm break of 1.5894 will be an early sign of major topping and turn focus to 1.5346 key support for confirmation.

Daily Pivots: (S1) 1.5480; (P) 1.5570; (R1) 1.5622; More….

EUR/AUD’s correction from 1.5770 is still extending and deeper fall could be seen. But downside should be contained above 1.5226 key support to bring rally resumption. On the upside, break of 1.5770 will resume the medium term rise and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).

Daily Pivots: (S1) 1.6417; (P) 1.6506; (R1) 1.6597; More…

EUR?AUD is staying in consolidation from 1.6786 and intraday bias remains neutral first. In case of another fall, downside should be contained above 1.6247 resistance turned support to bring rise resumption. On the upside, break of 1.6786 will extend larger up trend to 161.8% projection of 1.5683 to 1.6448 from 1.5894 at 1.7132.

In the bigger picture, current development suggests that up trend from 1.1602 (2012 low) is resuming. Strong support from 55 week EMA indicates medium term bullishness. Next upside target is 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488. In any case, break of 1.5894 support is needed to be the first sign of medium term topping. Otherwise, outlook will remain bullish even in case of deep pull back.

Daily Pivots: (S1) 1.5738; (P) 1.5833; (R1) 1.5887; More…

EUR/AUD reached as low as 1.5780 but recovered since then. It’s also kept in range of 1.5721/6122. Intraday bias remains neutral first and more consolidation could still be seen. On the downside, break of 1.5721 low will resume the fall from 1.6765 and target 1.5346 support next. On the upside, though, break of 1.6122 will extend the pattern from 1.5721 with another rise.

In the bigger picture, as long as 1.5346 support holds, outlook will remain bullish. Uptrend 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.

Daily Pivots: (S1) 1.6303; (P) 1.6354; (R1) 1.6438; More…

Intraday bias in EUR/AUD remains neutral for the moment as range trading continues. On the upside, decisive break of 1.6434 resistance will carry larger bullish implications. 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 stayed in sideway trading last week and outlook is unchanged. Initial bias remains neutral this week first. As price actions from 1.5721 is seen as a consolidation pattern, decline from 1.6765 is likely still in progress. That is, a downside breakout is in favor. On the downside, break of 1.5721 low will resume the decline from 1.6765 and target 1.5346 support. On the upside, above 1.6122 will resume the corrective rise from 1.5721 instead.

In the bigger picture, as long as 1.5346 support holds, outlook will remain bullish. Uptrend 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.

In the longer term picture, the rise from 1.1602 long term bottom (2012 low) is still in progress for 61.8% retracement of 2.1127 to 1.1602 at 1.7488. Firm break there will pave the way to 100% projection of 1.1602 to 1.6587 from 1.3624 at 1.8069. This will remain the favored case as long as 1.5346 remains intact.

Daily Pivots: (S1) 1.4664; (P) 1.4730; (R1) 1.4771; More…

At this, we’d still expect strong support from 1.4669 close to 55 day EMA at 1.4685, to contain downside and bring rebound. Break of 1.4897 minor resistance will turn bias back to the upside for retesting 1.5226 high first. However, sustained break of 1.4669 will 1.4669 will argue that rise from 1.3642 is completed and bring deeper pull back to 55 week EMA (now at 1.4539) and below.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 is now expected to target 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. In any case, outlook will now stay cautiously bullish as long as 1.4669 support holds. Break of 1.4669 will dampen the bullish view and would at least bring deeper fall back to 55 week EMA (now at 1.4539).

Daily Pivots: (S1) 1.4817; (P) 1.4858; (R1) 1.4895; More…

Intraday bias in EUR/AUD remains neutral for the moment. With 1.4813 minor support intact, holds, we’re favoring the bullish case that pull back from 1.5226 has completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Above 1.4997 will turn bias back to the upside for 1.5226 first. However, break of 1.4813 will dampen this view and turn bias back to the downside for 1.4625 support.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed at 1.3624 after defending 1.3671 key support. Rise from 1.3642 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.6115; (P) 1.6185; (R1) 1.6314; More…

EUR/AUD’s break of 1.6200 resistance confirms resumption of larger rise from 1.4281. Intraday bias is back on the upside for 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302 and then 1.6389 fibonacci level. On the downside, below 1.6053 minor support will turn intraday bias neutral first. But outlook will continue to stay bullish as long as 1.5848 support holds.

In the bigger picture, the strong support from 55 week EMA (now at 1.5404) 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.

Daily Pivots: (S1) 1.6132; (P) 1.6181; (R1) 1.6234; More..

Further decline could be seen in EUR/AUD with 1.6313 minor resistance holds. But considering bullish convergence condition in 4H MACD, stronger support could be seen from 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 to bring rebound. On the upside, firm break of 1.6313 resistance should indicate short term bottoming, and turn bias back to the upside for 1.6478 resistance.

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.

Daily Pivots: (S1) 1.4820; (P) 1.4861; (R1) 1.4920; More…

Intraday bias in EUR/AUD remains on the upside for 1.5073 resistance. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Break of 1.5073 will likely resume the rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 next. On the downside, below 1.4830 minor support will turn intraday bias neutral first. But outlook will stay cautiously bullish as long as 1.4777 resistance turned support holds.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to resume to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, another decline will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

EUR/AUD’s decline accelerated to as low as 1.5652 last week. Downside acceleration raised the chance of medium term reversal. Initial bias remains on the downside this week for 1.5621 key support next. On the upside, break of 1.5774 support turned resistance is needed to be first sign of short term bottoming. Otherwise, deeper will still be in favor in case of recovery.

In the bigger picture, considering bearish divergence condition in daily MACD, even if rise from 1.3624 (2017 low) extends, upside should b limited by 1.6587 key resistance (2015 high) to bring reversal. Meanwhile, 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.

Daily Pivots: (S1) 1.6032; (P) 1.6130; (R1) 1.6184; More…

EUR/AUD is staying in range above 1.6033 and intraday bias remains neutral first. Outlook stays bearish with 1.6772 resistance intact, and further fall is expected. On the downside, break of 1.6033 will extend the fall from 1.9799 to next support level at 1.5346.

In the bigger picture, the firm break of 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 1.6553) suggests that whole up trend from 1.1602 (2012 low) might have completed. Deeper fall would now be seen to 61.8% retracement at 1.4733. This week remain the preferred case now as long as 1.7194 resistance holds.

EUR/AUD’s fall from 1.6742 extended to 1.6368 last week before turning sideway. Initial bias stays neutral this week first, but risk will stay on the downside as long as 1.6516 resistance holds. On the downside, below 1.6368 will resume the fall from 1.6742 towards 1.6127 low. Nevertheless, break of 1.6516 will turn bias back to the upside for stronger rebound.

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). The correction is probably still in progress with fall from 1.6742 as the third leg. Strong support is expected around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

In the longer term picture, price actions from 1.9799 (2020 high) are seen as a long term decline at the same scale as the rise from 1.1602 (2012 low). Rebound from 1.4281 is seen as the second leg. As long as 55 M EMA (now at 1.5950) holds, this second leg could still extend higher. However, sustained trading below 55 M EMA will open up the bearish case for extending the decline through 1.4281 low.