Daily Pivots: (S1) 1.6902; (P) 1.7559; (R1) 1.8029; More…

No change in EUR/AUD’s outlook. Outlook remains bullish as long as 1.6774 support holds. Current rally is part of larger up trend with next medium term target at 1.8619. Though, break of 1.6774 will indicate short term topping and bring lengthier consolidations first.

In the bigger picture, up trend from 1.1602 (2012 low) has just resumed and persistent strong support from 55 week EMA affirms medium term bullishness. Current up trend should now target 100% projection of 1.1602 to 1.6597 from 1.3524 at 1.8619. In any case, outlook will remain bullish as long as 1.5906 support holds, in case of deep pull back.

Daily Pivots: (S1) 1.6084; (P) 1.6136; (R1) 1.6224; More….

Intraday bias in EUR/AUD stays mildly on the upside at this point. Pull back from 1.6357 should have completed at 1.6048. Further rise would be seen to 1.6357 first. Decisive break there will resume larger up trend for 1.6587 key resistance next. On the downside, even in case of another fall, outlook will stay bullish as long as 1.5984 support holds.

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 1.5984 support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back. However, sustained break of 1.5984 will be an early sign of trend reversal.

Daily Pivots: (S1) 1.5448; (P) 1.5497; (R1) 1.5591; More…

The strong break of near term channel resistance suggests that EUR/AUD is already correcting the decline from 1.6827. Intraday bias is now on the upside for 1.5689 resistance first. Break there will target 38.2% retracement of 1.6827 to 1.5250 at 1.5852.

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) 1.6097; (P) 1.6132; (R1) 1.6165; More…

Intraday bias in EUR/AUD remains neutral for the moment and some consolidation could be seen above 1.6085 temporary low. Further decline is expected as long as 1.6256 support turned resistance holds. Below 1.6085 will target a test on 1.5962 support. Nevertheless, firm break of 1.6256 will turn bias to the upside for 1.6448 resistance.

In the bigger picture, EUR/AUD is still struggling in established range of 1.5905/6786. And it’s trying to draw support from 55 week EMA (now at 1.6113) again. For now, larger up trend from 1.1602 (2012 low) is still in favor to continue as long as 1.5962 support holds. Break of 1.6503 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488.

EUR/AUD reached as high as 1.5074 last week but lost momentum ahead of 1.5094 resistance and retreated. Initial bias is neutral this week first for some more consolidation. We’re holding on to the bullish view that the medium term trend has reversed. Downside of retreat should be contained above 1.4669 support and bring rise resumption. Break of 1.5094 will extend the rally from 1.3624 to next medium term fibonacci level at 1.5455. However, considering bearish divergence condition in 4 hour MACD, break of 1.4669 will confirm short term topping and bring deeper pull back, possibly to 55 day EMA (now at 1.4428).

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 and above. In any case, outlook will now stay cautiously bullish as long as 1.4309 resistance turned support holds.

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, sustained trading below 1.3671 should confirm trend reversal and target 1.1602 long term bottom again.

EUR/AUD rose to as high as 1.6294 last week but failed to break through 1.6314 resistance and retreated sharply. Initial bias is neutral this week first. For now, further rise will remain mildly in favor as long as 1.5962 support holds. On the upside, 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.

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) 1.6330; (P) 1.6399; (R1) 1.6438; More…

Consolidation continues in EUR/AUD and intraday bias remains neutral first. 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.

Daily Pivots: (S1) 1.5682; (P) 1.5755; (R1) 1.5813; More….

A temporary top is formed again at 1.5823 and intraday bias is turned neutral. Another rise is expected as long as 1.5617 holds. Above 1.5823 will extend the rebound from 1.5271 towards 1.6139 high. However, break of 1.5617 will turn bias to the downside for 1.5425 minor support first.

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 rise medium term rise from 1.3624 (2017 low) is not completed yet. Break of 1.6189 will target 1.6587 key resistance (2015 high).

EUR/AUD’s strong rebound was limited by 1.5959 last week but was limited there. Near term outlook is mixed up by the deep retreat from there. Initial bias is mildly on the downside this week for retesting 1.5683 low. At this point we’re still slightly favoring the bullish case that correction from 1.6765 has completed with three waves down to 1.5683. Thus, downside of current retreat should be contained above 1.5683 to bring rise resumption. On the upside, above 1.5959 will target 1.6122 resistance to confirm our bullish view.

In the bigger picture, as long as 1.5346 support holds, outlook will still 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) 1.5318; (P) 1.5395; (R1) 1.5446; More…

Range trading continues in EUR/AUD and intraday bias remains neutral first. With near term falling channel intact, further decline is in favor. On the downside, break of 1.5250 low will resume larger down trend from 1.9799, for 1.4733 fibonacci level. On the upside, though, break of 1.5689 and sustained trading above channel resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.5945 resistance and above.

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) 1.6595; (P) 1.6721; (R1) 1.6791; More…

Near term outlook is mixed up by the steep pull back from 1.6843. Intraday bias is turned neutral first. On the upside, above 1.6843 will resume the rebound from 1.6319. Firm break there will resume larger up trend. However, break of 1.6550 support will bring deeper fall back to 1.6319 support instead.

In the bigger picture, the strong support from medium term rising trend line indicates that rise from 1.4281 (2022 low) is still in progress. Sustained break of 1.7062 will pave the way to 61.8% retracement of 1.9799 (2020 high) to 1.4281 at 1.7691. In any case, outlook will stay bullish as long as 1.6319 support holds.

Daily Pivots: (S1) 1.5894; (P) 1.5950; (R1) 1.5990; More…

No change in EUR/AUD’s outlook as further rise is expected with 1.5743 support intact. Rebound from 1.5354 will target 161.8% projection of 1.5354 to 1.5743 from 1.5446 at 1.6075 next. On the downside, however, 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) 1.5682; (P) 1.5721; (R1) 1.5748; More…

Intraday bias in EUR/AUD remains neutral for the moment. Outlook is unchanged that corrective fall from 1.5976 has completed at 1.5254. Further rally is expected as long as 1.5650 resistance turned support holds. Break of 1.5826 will target a test on 1.5976 high. However, firm break of 1.5650 will delay the bullish case and extend the corrective pattern from 1.5976 with another falling leg.

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) 1.6268; (P) 1.6306; (R1) 1.6367; More…

EUR/AUD’s rise from 1.5905 resumed by taking out 1.6368 resistance. Intraday bias is turned back to the upside. Further rise should be seen to 1.6680/6786 resistance zone next. On the downside, however, break of 1.6203 support will turn bias back to the downside for 1.6074 support.

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 1.6038) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

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.

EUR/AUD’s rise from 1.5894 extended higher last week. Break of 1.6231 resistance dampened our original bearish view. It suggests that pull back from 1.6448 has completed at 1.5894 already. Initial bias stays on the upside for 1.6448 first. Break will resume the rally from 1.5683 for 1.6765 resistance next. On the downside, below 1.6256 minor support will turn intraday bias neutral first. But further rise will remain mildly in favor as long as 1.6108 support holds.

In the bigger picture, as long as 1.5346 support holds, medium term 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.

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 1.5346 remains intact.

Daily Pivots: (S1) 1.6292; (P) 1.6332; (R1) 1.6364; More…

EUR/AUD retreated after hitting 1.6420 and intraday bias is turned neutral. We’re viewing rebound from 1.6122 as a rising leg in the consolidation pattern from 1.6033. Above 1.6420 will target 1.6827 resistance. On the downside, though, 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) 1.5722; (P) 1.5756; (R1) 1.5799; More…

Intraday bias in EUR/AUD remains neutral first and risk stays on the downside. Break of of 1.5657 will target 1.5418 support. Firm break there will confirm that consolidation pattern from 1.5250 has completed just missing 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the upside, however, sustained break of 1.5852 will bring further rally back to 1.6033 support turned resistance.

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.

EUR/AUD’s rebound from 1.5591 extended higher last week, but failed to break through near term falling channel and retreated. Initial bias stays neutral this week first. On the upside, sustained break of the channel resistance will argue that fall from 1.6827 has completed at 1.5591. Stronger rise should be seen to 1.6144 support turned resistance. On the downside, break of 1.5760 minor support will retain near term bearishness, and bring retest of 1.5591 low.

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.

EUR/AUD gyrated lower further last week, but it recovered just ahead of 1.5250 low. Initial bias remains neutral this week first. Outlook stays bearish as the cross is still bounded inside near term falling channel. On the downside, sustained break of 1.5250 low will resume larger down trend from 1.9799, for 1.4733 fibonacci level. On the upside, though, break of 1.5689 and sustained trading above channel resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for 1.5945 resistance and above.

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.

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 1.5816) now further affirms this case could bring deeper decline to 1.1602/3624 support zone.