EUR/AUD’s down trend continued last week and there is no sign of bottoming yet. Initial bias remains on the downside this week. Firm break of 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715 will target 161.8% projection at 1.5279 next. On the upside, break of 1.5863 minor resistance will suggest short term bottoming. Intraday bias will be turned back to the upside for rebound.

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.

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 1.5847) now further affirms this case could bring deeper decline to 1.1602/3624 support zone.

Daily Pivots: (S1) 1.5766; (P) 1.5815; (R1) 1.5847; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current down trend should target 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715. Break will target 161.8% projection at 1.5279 next. On the upside, above 1.5863 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

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) 1.5749; (P) 1.5814; (R1) 1.5859; More…

EUR/AUD’s decline is still in progress and intraday bias remains on the downside. Current down trend should target 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715. Break will target 161.8% projection at 1.5279 next. On the downside, above 1.6027 minor resistance will turn bias back to the upside for stronger rebound.

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) 1.5778; (P) 1.5883; (R1) 1.5950; More…

Intraday bias in EUR/AUD remains on the downside at this point. Current decline should target 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715. On the downside, above 1.6027 minor resistance will turn bias back to the upside for stronger rebound.

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) 1.5875; (P) 1.5952; (R1) 1.6058; More…

Outlook in EUR/AUD will stays bearish as long as 1.6122 support turned resistance holds. Further decline should be seen to 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715. Though, break of 1.6122 will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.6420 resistance instead.

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) 1.5219; (P) 1.5880; (R1) 1.6583; More…

EUR/AUD’s firm break of 1.6033 support confirms resumption of whole decline from 1.9799. Intraday bias is back on the downside. Next near term target is 100% projection of 1.6827 to 1.6122 from 1.6420 at 1.5715. On the upside, break of 1.6022 minor resistance will turn intraday bias neutral and bring consolidations first.

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) 1.6064; (P) 1.6100; (R1) 1.6135; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, decisive break of 1.6033 will resume whole down trend from 1.9799. On the upside, firm break of 1.630 resistance will extend the consolidation from 1.6033 with another rising leg, back to 1.6827 resistance.

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) 1.6041; (P) 1.6097; (R1) 1.6168; More…

Intraday bias in EUR/AUD stays neutral as it recovered after hitting 1.6033 low again. On the downside, decisive break of 1.6033 will resume whole down trend from 1.9799. On the upside, firm break of 1.630 resistance will extend the consolidation from 1.6033 with another rising leg, back to 1.6827 resistance.

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) 1.5997; (P) 1.6043; (R1) 1.6089; More…

Intraday bias in EUR/AUD remains neutral first and focus is back on 1.6033 low. Decisive break there will resume whole down trend from 1.9799. On the upside, firm break of 1.630 resistance will extend the consolidation from 1.6033 with another rising leg, back to 1.6827 resistance.

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) 1.6117; (P) 1.6175; (R1) 1.6220; More…

Intraday bias in EUR/AUD is turned neutral with today’s retreat. On the upside, firm break of 1.630 resistance will extend the consolidation from 1.6033 with another rising leg, back to 1.6827 resistance. On the downside, sustained break of 1.6033 low will resume whole down trend from 1.9799.

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) 1.6057; (P) 1.6157; (R1) 1.6236; More…

Intraday bias in EUR/AUD remains mildly on the upside. Rebound from 1.6006 would extend to 1.6420 resistance. Firm break there will extend the consolidation from 1.6033 with another rising leg, back to 1.6827 resistance. On the downside, sustained break of 1.6033 low will resume whole down trend from 1.9799.

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) 1.6042; (P) 1.6094; (R1) 1.6129; More…

EUR/AUD’s break of 1.6178 resistance suggests short term bottoming at 1.6006, after failing to sustain below 1.6033 low. Intraday bias is turned back to the upside for 1.6420 resistance first. Firm break there will extend the consolidation from 1.6033 with another rising leg, back to 1.6827 resistance. on the downside, sustained break of 1.6033 low will resume whole down trend from 1.9799.

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.

EUR/AUD dropped to 1.6006 last week but failed to sustain below 1.6033 low and recovered. Initial bias remains neutral this week first, and further fall is in favor with 1.6178 minor resistance intact. On the downside, break of 1.6006 and sustained trading below 1.6033 will confirm resumption of down trend from 1.9799. Next target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5715. On the upside, firm break of 1.6178 minor resistance will suggest short term bottoming, after drawing support from 1.6033 low. Intraday bias will be turned back to the upside for 1.6420 resistance.

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.

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 1.5847) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6022; (P) 1.6072; (R1) 1.6137; More…

Despite dipping to 1.6006, EUR/AUD failed to sustain below 1.6033 key support and recovered. Intraday bias remains neutral first. On the downside, decisive break of 1.6033 will resume larger down trend from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5715. On the upside, firm break of 1.6178 minor resistance will suggest short term bottoming, after drawing support from 1.6033 low. Intraday bias will be turned back to the upside for 1.6420 resistance.

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) 1.6060; (P) 1.6103; (R1) 1.6142; More…

Intraday bias in EUR/AUD remains neutral at this point. With 1.6178 minor resistance intact, further decline is expected. On the downside, decisive break of 1.6033 will resume larger down trend from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984. On the upside, firm break of 1.6178 minor resistance will suggest short term bottoming, after drawing support from 1.6033 low. Intraday bias will be turned back to the upside for 1.6420 resistance first.

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) 1.6040; (P) 1.6111; (R1) 1.6155; More…

Intraday bias in EUR/AUD remains neutral for the moment and further decline is expected with 1.6178 resistance intact. On the downside, decisive break of 1.6033 will resume larger down trend from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984. On the upside, firm break of 1.6178 minor resistance will suggest short term bottoming, after drawing support from 1.6033 low. Intraday bias will be turned back to the upside for 1.6420 resistance first.

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) 1.6070; (P) 1.6100; (R1) 1.6153; More…

Intraday bias in EUR/AUD is turned neutral with today’s recovery. On the upside, firm break of 1.6178 minor resistance will suggest short term bottoming, after drawing support from 1.6033 low. Intraday bias will be turned back to the upside for 1.6420 resistance first. Decisive break there would confirm that consolidation pattern from 1.6033 has started another rise leg, back towards 1.6827 resistance. On the downside, however, decisive break of 1.6033 will resume larger down trend from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984.

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) 1.6030; (P) 1.6086; (R1) 1.6131; More…

Intraday bias in EUR/AUD stays on the downside with focus on 1.6033 low. Decisive break there will resume larger down trend from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984. On the upside, above 1.6178 minor resistance will indicate some support from 1.6033 and turn intraday bias neutral first.

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.

EUR/AUD’s fall from 1.6827 resumed last week and reached as low as 1.6040. Initial bias stays on the downside this week. Decisive break of 1.6033 low will resume larger down trend from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984. On the upside, above 1.6178 minor resistance will indicate some support from 1.6033 and turn intraday bias neutral first.

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.

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 1.5847) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6042; (P) 1.6155; (R1) 1.6218; More…

EUR/AUD’s fall from 1.6827 resumes by breaking 1.6122. Intraday bias is back on the downside with focus on 1.6033 low. Decisive break there will resume larger fall from 1.9799. Next near term target is 100% projection of 1.6872 to 1.6122 from 1.6420 at 1.5984. On the upside, above 1.6178 minor resistance will indicate some support from 1.6033 and turn intraday bias neutral first.

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.