Daily Pivots: (S1) 1.6185; (P) 1.6249; (R1) 1.6359; More…

Breach of 1.6299 minor resistance suggests that consolidation from 1.6033 is starting another rising leg. But after all, outlook stays bearish as long as 1.6586 resistance holds. . On the downside, firm break of 1.6033 will confirm resumption of whole fall from 1.9799. Deeper fall would then be seen to long term EMA at 1.5790.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall could be seen to 55 month EMA (now at 1.5790). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. This will remain the preferred case now as long as 1.6586 resistance holds.

Daily Pivots: (S1) 1.5904; (P) 1.5930; (R1) 1.5966; More….

Intraday bias in EUR/AUD remains neutral and outlook is unchanged. The fall from 1.6765 is probably still in progress. Break of 1.5721 low will extend the decline and target 1.5346 support. On the upside, above 1.6122 will resume the corrective rise from 1.5721.

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) 1.5644; (P) 1.5684; (R1) 1.5750; More….

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.5601 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. Meanwhile, 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.

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.

Daily Pivots: (S1) 1.6668; (P) 1.6748; (R1) 1.6856; More…

Intraday bias in EUR/AUD remains on the upside at this point. Further rise should be seen to 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 1.6701 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.

Daily Pivots: (S1) 1.6164; (P) 1.6209; (R1) 1.6235; More…

EUR/AUD’s correction from 1.6448 is still in progress and outlook remains unchanged. While deeper decline cannot be ruled out, 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. However, firm break of 1.6052 support will near term outlook bearish for 1.5683 support again.

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) 1.5675; (P) 1.5717; (R1) 1.5767; More….

Intraday bias in EUR/AUD remains neutral at this point. On the upside, above 1.5781 will resume the corrective rebound from 1.5519 to 38.2% retracement of 1.6357 to 1.5519 at 1.5839 and possibly above. But upside should be limited well below 1.5984 support turned resistance to bring fall resumption. On the downside, below 1.5643 minor support will bring retest of 1.5519 low.

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 1.5984 support turned resistance is now needed to revive the prior medium term up trend. Otherwise, further decline will be in favor even in case of strong interim rebound.

Daily Pivots: (S1) 1.5875; (P) 1.5927; (R1) 1.5958; More….

EUR/AUD is staying in consolidation from 1.5721 and intraday bias remains neutral. The fall from 1.6765 is probably still in progress. Break of 1.5721 low will extend the decline and target 1.5346 support. On the upside, above 1.6122 will resume the corrective rise from 1.5721.

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) 1.5649; (P) 1.5740; (R1) 1.5794; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, break of 1.5655 will resume the fall from 1.6168 to retest 1.5253/5254 support zone. On the upside, however, break of will turn bias back to the upside for retesting 1.6168 first. Break there will resume rise from 1.5354 to 1.6434 resistance.

In the bigger picture, medium term outlook remains neutral for the moment. 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.

Daily Pivots: (S1) 1.5670; (P) 1.5743; (R1) 1.5790; More…

Intraday bias in EUR/AUD is turned neutral first as it retreated after hitting 1.5813. Outlook is unchanged that corrective fall form 1.5976 has completed at 1.5254. Further rally is expected as long as 1.5605 support holds. Above 1.5813 will resume the rebound from 1.5254 to retest 1.5976 high.

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) 1.6022; (P) 1.6104; (R1) 1.6148; More….

EUR/AUD’s consolidation pattern from 1.6353 extends lower and hit 38.2% retracement of 1.5601 to 1.6353 at 1.6066. At this point, deeper decline could still be seen. But downside should be contained well above 1.5886 cluster support (61.8% retracement at 1.5888) to bring rise resumption. On the upside, above 1.6172 minor resistance will bring retest of 1.6353 first. Break will resume larger up trend to 1.6587 key resistance level.

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 1.5601 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) 1.5520; (P) 1.5591; (R1) 1.5687; More…

EUR/AUD is staying in consolidation from 1.5747 and intraday bias remains neutral at this point. As long as 1.5271 support holds, further rally is expected. On the upside, firm break of 1.5747 will resume larger rally from 1.4281. Next target is 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

In the bigger picture, as long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. However, firm break of 1.5271 will argue that such rebound has completed, and keep medium term outlook neutral at best. But in this case, more range trading should be seen above 1.4281 low first.

Some volatility was seen in EUR/AUD last week but it’s staying in range after all. Initial bias remains neutral this week first. On the upside, above 1.5187 will target 1.5277 resistance and than 1.5354 support turned resistance next. On the downside, break of 1.4759 support will suggest that rebound from 1.4318 has completed. Intraday bias will be turn back to the downside for retesting 1.4318 low.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend from 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 back to 1.6434 key resistance.

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 drew from 1.6203 last week and recovered briefly. But there was no follow through buying. Initial bias remains neutral this week first. On the downside, firm break of 1.6203 will argue that corrective rise from 1.5905 has completed at 1.6432. Intraday bias will be turned back to the downside for retesting 1.5905. On the upside, break of 1.6432 will target 1.6680/6786 resistance zone 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 1.6054) 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) 1.5712; (P) 1.5769; (R1) 1.5863; More…

EUR/AUD’s rebound from 1.5591 extends higher today and focus is now on channel resistance (now at 1.5929). Sustained break there will argue that whole fall from 1.6827 has completed. Stronger rebound would then be seen to 1.6144 support turned resistance next. Though, rejection by the channel resistance will retain near term bearishness, for another fall through 1.5591 in a later stage.

In the bigger picture, current development suggests that price actions from 1.9799 is 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.

Daily Pivots: (S1) 1.6123; (P) 1.6209; (R1) 1.6255; More…

A temporary top is formed at 1.6294 after failing to break through 1.6314 resistance. Intraday bias is turned neutral first. Risk will stay on the upside as long as 1.5962 support holds. Break of 1.6314 will re-affirm medium term bullishness and target 1.6432 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 1.6079) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.4812; (P) 1.4891; (R1) 1.4991; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.5053 will resume the rebound from 1.4318, and target 61.8% retracement of 1.6223 to 1.4318 at 1.5495. On the downside, break of 1.4597 will bring retest of 1.4318 low instead.

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) 1.4688; (P) 1.4760; (R1) 1.4824; More…

EUR/AUD’s consolidation from 1.4909 temporary top is still in progress and intraday bias remains neutral. Deeper retreat cannot be ruled out. But downside should be contained by 1.4442 support and bring another rise. Break of 1.4909 will extend whole rise from 1.3624 to next medium term fibonacci level at 1.5455.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed 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 and above. In any case, outlook will now stay cautiously bullish as long as 1.4309 resistance turned support holds.

Daily Pivots: (S1) 1.6220; (P) 1.6312; (R1) 1.6361; More…

Intraday bias in EUR/AUD remains neutral and consolidation from 1.6033 could extend. Further decline is expected with 1.6772 resistance intact. On the downside, break of 1.6033 will resume the fall from 1.9799 and target 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.

Daily Pivots: (S1) 1.5582; (P) 1.5639; (R1) 1.5736; More…

EUR/AUD’s rally continues today and intraday bias remains on the upside for 1.5749 resistance. 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) 1.4822; (P) 1.4887; (R1) 1.4976; More…

Intraday bias in EUR/AUD remains neutral for the moment. Further rise is in favor with 1.4796 minor support intact. We’re holding on to the bullish view 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, firm break of 1.4796 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.