Daily Pivots: (S1) 1.5713; (P) 1.5793; (R1) 1.5834; More….

Intraday bias in EUR/AUD stays neutral as it’s bounded in range of 1.5969/5886. Another rise is expected with 1.5696 minor support intact. On the upside, break of 1.5886 will resume the rebound from 1.5271 and target 1.6189 high. However, as the rebound from 1.5271 is not clearly impulsive yet and momentum isn’t too convincing. Break of 1.5695 minor support could be an early sign of near term topping. In such case, bias will be turned back to the downside for 1.5425 support.

In the bigger picture, current development suggests that fall from 1.6189 is a corrective move and has completed at 1.5217 already. Key support levels of 1.5153 and 38.2% retracement of 1.3624 to 1.6189 at 1.5209 were defended. And medium term rise from 1.3624 (2017 low) is still in progress. Break of 1.6189 will target 1.6587 key resistance (2015 high).

Daily Pivots: (S1) 1.5012; (P) 1.5053; (R1) 1.5115; More….

Intraday bias in EUR/AUD remains neutral for consolidation in range of 1.4791/5173. On the upside, break of 1.5173/5226 resistance zone will finally resume larger rise from 1.3624. In that case, EUR/AUD will target 1.5644 resistance first. On the downside, break of 1.4791 support will turn bias to the downside and extend the fall from 1.5173 to retest 1.4421 support.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.6224; (P) 1.6268; (R1) 1.6299; More…

Range trading continues in EUR/AUD and intraday bias remains neutral. Fall from 1.6785 might be a correction to whole up trend from 1.4281. Break of 1.6134 will target 38.2 retracement of 1.4281 to 1.6785 at 1.5828, which is inside 1.5254/5976 support zone. Nevertheless, sustained break of 1.6354 minor resistance will turn bias back to the upside for retesting 1.6785 high instead.

In the bigger picture, whole down trend from 1.9799 (2020 high) should have 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.

Daily Pivots: (S1) 1.6474; (P) 1.6519; (R1) 1.6548; More..

Immediate focus is now on 1.6439 support in EUR/AD with current fall. Firm break there will argue that whole rebound from 1.6127 has completed, and turn near term outlook bearish for this support again. Nevertheless, strong rebound from current level, followed by break of 1.6561 minor resistance, will turn bias back to the upside for retesting 1.6742.

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). Break of 1.6844 resistance will argue that this up trend is ready to resume through 1.7062 high. In case of another fall, strong support should be seen around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

EUR/AUD rebounded notably last week but stayed below 1.5898 resistance. 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) 1.5681; (P) 1.5799; (R1) 1.6020; More…

Further rise is mildly in favor in EUR/AUD as long as 1.5743 support holds. Fall from 1.6434 might have completed at 1.5354 already. Rebound from there would target 161.8% projection of 1.5354 to 1.5743 from 1.5446 at 1.6075 next. On the downside, break of 1.5743 resistance turned support will mix up the near term outlook and turn intraday bias neutral first.

In the bigger picture, the strong rebound from 1.5354 invalidates the case of imminent downside breakout, and turn medium term outlook neutral again. Such rise is seen as the third leg of the corrective pattern from 1.5250. Further rally could be seen through 1.6434 resistance. On the downside, however, break of 1.5446 support will turn focus back to 1.5250 low.

Daily Pivots: (S1) 1.5422; (P) 1.5473; (R1) 1.5525; More…

EUR/AUD is staying in consolidation from 1.5704 and intraday bias stays neutral. While another fall cannot be ruled out, downside should be contained by 55 day EMA (now at 1.5280) to bring rebound. On the upside, decisive break of 1.5704 will resume larger rise from 1.4281. However, sustained trading below 55 day EMA will bring deeper correction towards 1.4965 resistance turned support.

In the bigger picture, a medium term bottom should be in place at 1.4281, on bullish convergence condition in daily MACD. Further rise would be seen back to 1.6434 key resistance next. Break of 1.4965 resistance turned support is needed to indicate reversal. Otherwise, further rally will remain in favor.

Daily Pivots: (S1) 1.5798; (P) 1.5859; (R1) 1.5895; More…

Intraday bias in EUR/AUD is turned neutral first with today’s retreat. Further rise is expected as long as 1.5441 support holds. Break of 1.5916 will resume the larger rise from 1.4281 to 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

In the bigger picture, strong support from 55 day and 55 week EMA affirms underlying bullishness. As long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. Decisive break there should confirm medium term bullish trend reversal.

Daily Pivots: (S1) 1.5566; (P) 1.5589; (R1) 1.5634; More…

EUR/AUD is staying in consolidation pattern from 1.5250 and intraday bias remains neutral. On the upside, break of 1.5672 will bring stronger rebound. But upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, below 1.5423 should bring retest of 1.5250 low. Overall, down trend from 1.9799 is expected to resume after consolidation from 1.5250 completes.

In the bigger picture, price actions from 1.9799 are 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 1.6033 support turned resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 1.5949; (P) 1.5991; (R1) 1.6043; More…

A temporary top is formed at 1.6040 in EUR/AUD and intraday bias is turned neutral for consolidations. Downside of retreat should be contained by 1.5826 resistance turned support to bring another rally. Above 1.6040 will resume the larger rally to 61.8% projection of 1.4281 to 1.5976 from 1.5254 at 1.6302.

In the bigger picture, the strong support from 55 week EMA (now at 1.5396) is raising the chance of bullish trend reversal. On break of 1.5976, focus will be 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 form 1.9799 (2020 high) has completed. However, rejection by this cluster resistance will make medium term outlook neutral at best.

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.

EUR/AUD’s rebound from 1.5271 extended higher last week but lost momentum ahead of 1.5773 key support turned resistance. Initial bias stays neutral this week first. 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. On the downside, break of 1.5617 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.

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.

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.

Daily Pivots: (S1) 1.4952; (P) 1.5030; (R1) 1.5071; More….

Intraday bias in EUR/AUD remains neutral for consolidation inside range of 1.4791/5173. On the upside, break of 1.5173/5226 resistance zone will finally resume larger rise from 1.3624. On the downside, break of 1.4791 support will turn bias to the downside and extend the fall from 1.5173 to retest 1.4421 support.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the price actions from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.5957; (P) 1.5999; (R1) 1.6024; More…

EUR/AUD is staying in consolidation from 1.5963 and intraday bias remains neutral first. Further fall is expected with 1.6071 minor resistance intact. Break of 1.5963 will target 1.5894/5906 key support zone. On the upside, above 1.6071 will turn bias back to the upside for recovery.

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 1.6077) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5035; (P) 1.5141; (R1) 1.5208; More…

EUR/AUD drops to as low as 1.4987 so far today and there is no sign of bottoming yet. Current decline is part for the down trend from 1.9799. Intraday bias stays on the downside for 161.8% projection of 1.6343 to 1.5354 from 1.6223 at 1.4476. On the upside, above 1.5243 minor resistance will turn intraday bias neutral and bring consolidations, before staging another fall.

In the bigger picture, down trend from 1.9799 (2020 high) in in progress for 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733 and below. But we’d tentatively look for bottoming sign above 1.3624 long term support, for an interim rebound. However, break of 1.5354 support turned resistance is now needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of rebound.

Daily Pivots: (S1) 1.4716; (P) 1.4762; (R1) 1.4839; More…

EUR/AUD’s break of 1.4777 indicates resumption of the rise from 1.4421. Intraday bias is back on the upside for 1.5073 resistance. As not before, correction from 1.5226 should have completed with three waves down to 1.4421 already. On the downside, break of 1.4564 support will dampen this bullish view and will turn bias back to the downside for 1.4421 support instead.

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.

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) 1.6598; (P) 1.6646; (R1) 1.6735; More…

EUR/AUD rose to 1.6692 but retreated since then. Intraday bias is neutral for the moment first. The breach of 1.6671 resistance suggests that rebound from 1.6127 is resuming. More importantly, whole correction from 1.7062 should have completed with three waves down to 1.6127. Further rise is now expected as long as 1.6450 support holds. Above 1.6692 will target 61.8% projection of 1.6127 to 1.6671 from 1.6450 at 1.6786 next.

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). Break of 1.6844 resistance will argue that this up trend is ready to resume through 1.7062 high. In case of another fall, strong support should be seen around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound.

Daily Pivots: (S1) 1.4787; (P) 1.4876; (R1) 1.4931; More…

Intraday bias in EUR/AUD remains neutral for the moment. Outlook stays bullish as long as 1.4777 support holds and further rise is expected. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Above 1.4964 will target 1.5073 resistance first. 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. However, firm break of 1.4777 will dampen this bullish view and turn bias to the downside for 1.4564 support. Break will extend the correction from 1.5226 through 1.4421.

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.

Daily Pivots: (S1) 1.6129; (P) 1.6187; (R1) 1.6233; More…

Intraday bias in EUR/AUD remains neutral for the moment. 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.