Daily Pivots: (S1) 1.6248; (P) 1.6296; (R1) 1.6326; More…

Intraday bias in EUR/AUD remains neutral at this point and further decline is in favor. On the downside, break of 1.6144 will target a test on 1.6033. Decisive break there will resume larger down trend from 1.9799. However, break of 1.6374 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 1.6459) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

EUR/AUD edged lower to 1.6144 last week but recovered since then. Initial bias is neutral this week first. Deeper fall is still in favor as long as 1.6374 resistance holds. Break of 1.6144 will target a test on 1.6033. Decisive break there will resume larger down trend from 1.9799. However, break of 1.6374 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 1.6459) would revive medium term bearishness for 61.8% retracement of 1.1602 to 1.9799 at 1.4733.

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 1.5823) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.6211; (P) 1.6274; (R1) 1.6388; More…

Intraday bias in EUR/AUD is turned neutral with current strong recovery. Further fall is mildly in favor as long as 1.6374 resistance holds. Below 1.6144 will target a test on 1.6033 low. Decisive break there will resume larger fall from 1.9799. On the upside, break of 1.6374 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) 1.6137; (P) 1.6190; (R1) 1.6236; More…

EUR/AUD is losing some downside momentum as seen in 4 hour MACD. But further fall is expected as long as 1.6374 resistance holds. Current decline from 1.6827 should target a test on 1.6033 low. Decisive break there will resume larger fall from 1.9799. On the upside, break of 1.6374 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) 1.6178; (P) 1.6231; (R1) 1.6272; More…

Intraday bias in EUR/AUD remains on the downside as fall from 1.6827 is in progress for retesting 1.6033 low. Decisive break there will resume larger fall from 1.9799. On the upside, break of 1.6374 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) 1.6170; (P) 1.6263; (R1) 1.6320; More…

EUR/AUD’s fall resumes after brief consolidations and intraday bias is back on the downside for retesting 1.6033 low. Decisive break there will resume larger fall from 1.9799. On the upside, break of 1.6374 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) 1.6272; (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.

EUR/AUD’s steep decline last week and firm break of 1.6337 support suggests that recent rebound might have completed. Yet, the cross lost momentum quickly after hitting 1.6229 and recovered. Initial bias is neutral this week first. Consolidation pattern from 1.6033 might be still in progress. On the downside, break of 1.6229 will bring retest of 1.6033. On the upside, break of 1.6505 resistance will start 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.

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

Daily Pivots: (S1) 1.6180; (P) 1.6287; (R1) 1.6342; More…

Intraday bias in EUR/AUD remains on the downside at this point. Fall from 1.6827 should target a test on 1.6033 low. Decisive break there will resume larger down trend from 1.9799. On the upside, break of 1.6505 resistance will turn bias back to the upside for 1.6827 resistance instead.

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) 1.6240; (P) 1.6373; (R1) 1.6458; More…

Breach of 1.6298 suggests that fall from 1.6827 is resuming. Intraday bias is back on the downside for retesting 1.6033 low. On the upside, though, break of 1.6505 resistance will turn bias back to the upside for 1.6827 resistance instead.

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) 1.6269; (P) 1.6423; (R1) 1.6508; More…

EUR/AUD dropped sharply to 1.6298 but recovered since then. Intraday bias is neutral first. Further fall is mildly in favor as long as 1.6686 resistance holds. Below 1.6298 will target a test on 1.6033 low. On the upside, though, break of 1.6686 will likely resume the corrective rebound from 1.6033 through 1.6827 resistance.

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) 1.6440; (P) 1.6541; (R1) 1.6594; More…

Intraday bias in EUR/AUD remains neutral at this point. With 1.6461 support intact, near term outlook stays cautiously bullish. On the upside, firm break of 1.6827 will resume the corrective pattern from 1.6033. Next target is 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6461 will turn bias to the downside for 1.6337 support.

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) 1.6520; (P) 1.6581; (R1) 1.6632; More…

Intraday bias in EUR/AUD remains neutral for the moment. Near term outlook will stay cautiously bullish as long as 1.6461 support holds. On the upside, firm break of 1.6827 will resume the corrective pattern from 1.6033. Next target is 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6461 will turn bias to the downside for 1.6337 support.

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.

Despite slightly deeper than expected pull back to 1.6461, EUR/AUD rebounded well ahead of 1.6337 support. The development maintains near term bullishness. Initial bias remains neutral this week first. On the upside, firm break of 1.6827 will resume the corrective pattern from 1.6033. Next target is 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6461 will turn bias to the downside for 1.6337 support.

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.

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

Daily Pivots: (S1) 1.6566; (P) 1.6627; (R1) 1.6671; More…

Intraday bias in EUR/AUD is mildly on the upside for retesting 1.6872 resistance Decisive break there will resume the corrective rebound from 1.6033 and target 38.2% retracement of 1.9799 to 1.6033 at 1.7472. On the downside, however, break of 1.6461 will bring deeper fall to 1.6337 support instead.

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) 1.6531; (P) 1.6608; (R1) 1.6756; More…

EUR/AUD rebounded strongly after hitting 1.6461, well ahead of 1.6337 support. The development revived near term bullishness that larger rebound from 1.6033 is not finished. Intraday bias is back on the upside for 1.6827 resistance first. Break there will target t 38.2% retracement of 1.9799 to 1.6033 at 1.7472.

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) 1.6532; (P) 1.6569; (R1) 1.6590; More…

EUR/AUD’s decline accelerates lower and break of 1.6485 support now argues that corrective rise from 1.6033 might have completed. Intraday bias is back on the downside for 1.6337 support first. Break will bring retest of 1.6033 low. On the upside, above 1.6606 minor resistance will turn bias back to the upside for 1.6827 resistance instead.

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) 1.6523; (P) 1.6591; (R1) 1.6649; More…

Intraday bias in EUR/AUD stays neutral for the moment. With 1.6485 support intact, further rise is expected. The cross should be in correction to fall from 1.9799 to 1.6033. Break of 1.6827 will target 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6485 support will argue that the rebound might be completed and turn focus to 1.6337 support for confirmation.

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) 1.6561; (P) 1.6613; (R1) 1.6673; More…

Intraday bias in EUR/AUD remains neutral first. While the retreat from 1.6827 was deep, further rise is still expected as long as 1.6485 support holds. The cross should be in correction to fall from 1.9799 to 1.6033. Break of 1.6827 will target 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6485 support will argue that the rebound might be completed and turn focus to 1.6337 support for confirmation.

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.

EUR/AUD surged to as high as 1.6827 last week before forming a temporary top there and retreated. Initial bias remains neutral this week first. The development suggests that the cross is already in correction to fall from 1.9799 to 1.6033. Further rise is expected as long as 1.6485 support holds. Break of 1.6827 will target 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, break of 1.6485 support will argue that the rebound might be completed and turn focus to 1.6337 support for confirmation.

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.

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