Daily Pivots: (S1) 1.6007; (P) 1.6046; (R1) 1.6093; More…

Intraday bias in EUR/AUD remains mildly on the upside for retesting 1.6182 high. Firm break there will resume the choppy rise from 1.5250 towards 1.6827 resistance next. On the downside, below 1.6037 minor support will turn intraday bias remains neutral first. Further sustained break of 55 day EMA will argue that choppy corrective rebound from 1.5250 has completed. Deeper fall would be seen to 1.5614 structural support for confirmation.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise would be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5614 support will indicate that the rebound has completed and bring retest of 1.5250 low.

Daily Pivots: (S1) 1.6157; (P) 1.6255; (R1) 1.6305; More…

EUR/AUD is still bounded in consolidation form 1.6033 and intraday bias remains neutral first. Outlook stays bearish as long as 1.6585 resistance holds. On the downside, break of 1.6033 will resume the whole fall from 1.9799, towards long term EMA at 1.5792. Nevertheless, on the upside, break of 1.6585 resistance should confirm short term bottoming and turn bias 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 55 month EMA (now at 1.5792). 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) 1.4567; (P) 1.4632; (R1) 1.4729; More…

EUR/AUD’s break of 1.4804 minor resistance argues that fall from 1.5327 is completed at 1.4533 already. Intraday bias is back on the upside for 1.5327 resistance. For now, such rise is seen as the third leg of the corrective pattern from 1.4561. As long as 1.5327 resistance holds, larger down trend is still expected to continue through 1.4533 at a later stage.

In the bigger picture, fall from 1.9799 is seen as a long term impulsive move. 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). Some support could be seen there to bring interim rebound. But overall, break of 1.5354 support turned resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will stay bearish in case of recovery.

EUR/AUD dropped sharply to as low as 1.5773 last week before forming a temporary low there and recovered. Initial bias is neutral this week first. Upside of recovery should be limited below 1.6055 minor resistance to bring another fall. Break of 1.5773 will target 1.5621 support first. Decisive break there will be another indication of medium term trend reversal.

In the bigger picture, the case for medium term reversal is building up in EUR/AUD. Bearish divergence condition in daily MACD indicates further loss of upside momentum ahead of 1.6587 key resistance (2015 high). Break of 1.5621 should confirm medium term topping and bring deeper fall back to 1.5153 and possibly below. Meanwhile, even in case of up trend resumption, we’d be cautious on strong resistance from 1.6587 to limit upside and bring reversal.

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.

EUR/AUD stayed in consolidation from 1.5704 last week and outlook is unchanged. Initial bias remains neutral this week first. In case of another fall, downside should be contained by 55 day EMA (now at 1.5327) 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.

In the longer term picture, breach of 55 month EMA (now at 1.5592) raises the chance of medium term bullish reversal. Focus is back on 1.6434 cluster resistance, 38.2% retracement of 1.9799 (2020 high) to 1.4281 at 1.6389). Sustained break there will confirm and target 61.8% retracement at 1.7691.

Daily Pivots: (S1) 1.5662; (P) 1.5708; (R1) 1.5736; More…

Intraday bias in EUR/AUD remains on the downside for 1.5559 support. Break there should indicate that corrective rise from 1.5354 has completed in form of a three wave pattern. Further decline would then be seen back to 1.5250/5354 support zone. On the upside, above 1.5837 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 1.5250 low are seen as a corrective pattern. Further extension could be seen and another rise cannot be ruled out. But 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) 1.6329; (P) 1.6383; (R1) 1.6439; More…

Intraday bias in EUR/AUD is turned neutral with current retreat. Some consolidations could be seen but downside should be contained by 1.6182 resistance turned support to bring rebound. On the upside, break of 1.6434 will resume larger rise from 1.5250 to 1.6827 resistance next. On the downside, though, break of 1.6182 will bring deeper pull back to 1.5898 structural support.

In the bigger picture, rise from 1.5250 medium term bottom is currently seen as a correction to the down trend from 1.9799 first. Stronger rise would be seen to 38.2% retracement of 1.9799 to 1.5250 at 1.6988 next. We’d tentatively expect strong resistance from there to limit upside, at least on first attempt. Meanwhile, break of 1.5898 support will indicate that the rebound has completed and bring retest of 1.5250 low.

Daily Pivots: (S1) 1.5152; (P) 1.5216; (R1) 1.5324; More…

Intraday bias in EUR/AUD stays on the upside with focus on 1.5354 support turned resistance. Sustained break there will indicate medium term bottoming at 1.4318. Stronger rally would be seen back to 100% projection of 1.4318 to 1.5277 from 1.4759 at 1.5718. On the downside, however, break of 1.5083 minor support will turn intraday bias neutral first.

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.

Daily Pivots: (S1) 1.4761; (P) 1.4843; (R1) 1.4963; More…

Intraday bias in EUR/AUD remains neutral as consolidation from 1.4965 is extending. Further rally is in favor as long as 1.4663 minor support holds. On the upside, break of 1.4965 will resume the rise from 1.4281 towards 1.5396 resistance. On the downside, however, break of 1.4663 minor support will turn bias back to the downside for retesting 1.4281 low.

In the bigger picture, down trend from 1.9799 is still in progress. Break of 1.4318 low will target 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). This will remain the favored case now as long as 1.5396 resistance holds.

Daily Pivots: (S1) 1.6272; (P) 1.6323; (R1) 1.6409; More…

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.6299 will will bring retest of 1.6033 low . On the upside, break of 1.6505 resistance will extend the consolidation from 1.6033 with another rising leg, and turn bias to the upside for 1.6827.

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 1.6463) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

Daily Pivots: (S1) 1.5330; (P) 1.5371; (R1) 1.5397; More…

EUR/AUD’s decline is still in progress and intraday bias remains on the downside. Current down trend from 1.9799 should target 100% projection of 1.6409 to 1.5591 from 1.5945 at 1.5127 next. On the upside, above 1.5504 minor resistance will turn bias neutral and bring consolidations first, before staging another fall.

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) 1.6151; (P) 1.6207; (R1) 1.6237; More….

EUR/AUD’s decline from 1.6351 extends lower today. the break of 1.6175 minor support suggests rejection from 1.6353 and dampens our bullish view. Intraday bias is mildly on the downside for deeper fall. But overall, price actions from 1.6353 are seen as a corrective pattern. Hence, downside should be contained by 1.5984 support to bring up trend resumption eventually.

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.

Daily Pivots: (S1) 1.5739; (P) 1.5781; (R1) 1.5847; More….

Intraday bias in EUR/AUD remains neutral at this point. And further decline is expected with 1.6038 resistance intact. On the downside, break of 1.5721 will extend the fall from 1.6765 to 1.5346 key support. But break of 1.6038 will indicate completion of the fall and turn bias back to the upside.

In the bigger picture, the failure to sustain above 1.6587 key resistance (2015 high) argues that up trend from 1.1602 (2012 low) is not ready to resume yet. But still, as long as 1.5346 support holds, outlook will remain bullish. 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) 1.5687; (P) 1.5740; (R1) 1.5814; More…

EUR/AUD rebounds to as high as 1.5792. But we’re holding on to the view that price actions from 1.5250 are merely a consolidation pattern. hence, upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, break of 1.5603 will turn bias back to the downside for retesting 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) 1.6305; (P) 1.6382; (R1) 1.6427; More…

EUR/AUD drops notably today but stays in range above 1.6033. Intraday bias remains neutral first and more consolidations could be seem. As long as 1.6586 resistance holds, further decline and break of 1.6033 remains in favor. However, on the upside, sustained break of 1.6585 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) 1.4492; (P) 1.4634; (R1) 1.4734; More…

Intraday bias in EUR/AUD remains on the downside as current fall from 1.5226 is targeting 100% projection of 1.5226 to 1.4625 from 1.4472 next. Firm break there would pave the way to larger fibonacci level at 61.8% retracement of 1.3624 to 1.5226 at 1.4236. On the upside, above 1.4624 minor resistance will turn intraday bias neutral first.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. But we will monitor the structure of the decline from 1.5226 to adjust our view. Above 1.5226 will target a test on 1.6587 key resistance. However, further downside acceleration will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.4821; (P) 1.4885; (R1) 1.4919; More…

The correction from 1.5226 is still in progress and intraday bias stays on the downside. Deeper fall could be seen to 38.2% retracement of 1.3980 to 1.5226 at 1.4750. At this point, we’d expect strong support from 1.4669 to contain downside and bring rebound. Larger rise from 1.3642 is expected to resume later after the pull back completes.

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.

EUR/AUD edged higher to 1.6843 last week but turned sideway since then. Initial bias stays neutral this week first. Further rally is expected as long as 1.6550 support holds. Above 1.6843 will target a test on 1.7062 high. 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.

In the longer term picture, loss of upside momentum as seen in 55 W MACD at this stage argues that rise from 1.4281 (2022 low) is more likely a corrective move. Further rise could still be seen as long as 1.5846 support holds. But upside will likely be limited by 61.8% retracement of 1.9799 to 1.4281 at 1.7691. Firm break of 1.5846 support will argue that the rise has completed, and another medium term down leg has started.

Daily Pivots: (S1) 1.6470; (P) 1.6504; (R1) 1.6541; More…

Intraday bias in EUR/AUD remains neutral at this point. On the upside, decisive break of 1.6671 will revive the case that whole correction from 1.7062 has completed with three waves down to 1.6127. Further rally should then be seen to 1.6844 resistance for confirmation. Nevertheless, below 1.6455 minor support will turn bias to the downside for 1.6348 and possibly below.

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 recovered after drawing support from 1.6450, but upside is still capped by 1.6606 minor resistance. Initial bias stays neutral this week first. On the upside, firm break of 1.6606 will retain near term bullishness and bring retest of 1.6742. Break there will resume larger rise from 1.6127. On the downside, however, decisive break of 1.6450 support will argue that whole rebound from 1.6127 has completed with three waves up to 1.6742 already. Near term outlook will be turned bearish for 1.6127 again.

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.

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 1.5932) 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.