Daily Pivots: (S1) 1.5093; (P) 1.5146; (R1) 1.5210; More….

EUR/AUD is staying in consolidation from 1.5392 and intraday bias remains neutral at this point. With 1.4949 support intact, outlook remains bullish and further rally is expected. On the upside, break of 1.5392 will resume medium term rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. However, decisive break of 1.4949 will carry larger bearish implication and turn bias to the downside.

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. However, break of 1.4949 support will dampen our view and argue that rise from 1.3624 has completed. In that case, EUR/AUD would turn southward for retesting 1.3624 low.

EUR/AUD stayed in consolidation below 1.4909 last week and recent rebound lost momentum. But overall outlook is unchanged. That is, whole correction from 1.6587 has completed at 1.3624 already after defending 1.3671 key support level. Further rise is expected to next fibonacci level at 1.5455 after consolidation completes.

Initial bias in EUR/AUD remains neutral this week first. Consolidation from 1.4909 could extend and deeper retreat cannot be ruled out. But downside should be contained by 1.4442/4649 support to bring rise resumption. Above 1.4909 will extend recent rally from 1.3624 to next medium term fibonacci level at 1.5455.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction should be completed 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.

Daily Pivots: (S1) 1.6403; (P) 1.6485; (R1) 1.6584; More…

Intraday bias in EUR/AUD remains neutral as it’s still limited below 1.6586 resistance. On the upside, sustained break of 1.6586 will suggest that it’s at least in correction to the fall from 1.9799 to 1.6033. Further rise should then be seen to 38.2% retracement of 1.9799 to 1.6033 at 1.7472. However, rejection by 1.6586 will maintain near term bearishness for another fall through 1.6033 later.

In the bigger picture, whole up trend from 1.1602 (2012 low) might have completed at 1.9799. Deeper fall might be seen to 55 month EMA (now at 1.5816). Sustained break there will pave the way to 61.8% retracement of 1.1602 to 1.9799 at 1.4733. However, strong support from 55 week EMA (now at 1.6449) would neutralize the long term bearishness and argues that price actions from 1.9799 are developing into a sideway range pattern instead.

EUR/AUD rebounded notably last week but remained inside range of 1.6033/6772. Outlook is unchanged and initial bias stays neutral this week first. Further decline is in favor as long as 1.6772 resistance holds. 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.

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 1.5760) will further affirm this case and target 1.1602/3624 support zone.

Daily Pivots: (S1) 1.5747; (P) 1.5780; (R1) 1.5806; More…

Intraday bias in EUR/AUD remains neutral for the moment. Consolidation from 1.5721 might extend further with another rise. But upside should be limited by 1.6122 resistance to bring fall resumption eventually. On the downside, decisive break of 1.5271 will resume the fall from 1.6765 and target 1.5346 support next.

In the bigger picture, as long as 1.5346 support holds, outlook will 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.

EUR/AUD’s fall from 1.6232 extended lower last week but stays above 1.5898 key support. Initial bias remains neutral this week first. As long as 1.5898 holds, larger rise from 1.5250 is still in favor to continue. Break of 1.6232 will turn bias to the upside for retesting 1.6434 high first. However, sustained break of 1.5898 will argue that rise from 1.5250 has completed, and turn near term outlook bearish for 1.5614 support first.

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 could 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. Larger down trend from 1.9799 might be ready to resume through 1.5250 low.

In the longer term picture, rise from 1.1602 (2012 low) should have already completed with three waves up to 1.9799 (2020 high). Fall from there is seen as a medium term to long term down leg as a long term down trend, or a sideway pattern. We’ll assess the odds again at a later stage.

Daily Pivots: (S1) 1.5449; (P) 1.5513; (R1) 1.5579; More…

Intraday bias in EUR/AUD remains neutral at this point, and outlook is unchanged. On the upside, above 1.5650 will revive that case that correction from 1.5976 has completed at 1.5254. Intraday bias will be back on the upside for 1.5749 resistance first. On the downside, firm break of 1.5254/71 will carry larger bearish implication and resume the fall from 1.5976.

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.

EUR/AUD’s rebound from 1.5354 resumed last week and accelerated to as high as 1.5906. The development suggests that whole decline from 1.6434 has completed at 1.5354 already. Initial bias stays on the upside this week for 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.

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) 1.5416; (P) 1.5469; (R1) 1.5541; More…

EUR/AUD is extending the corrective pattern from 1.5074. Intraday bias stays neutral at this point. Deeper fall could be seen but downside should contained by 55 day EMA (now at 1.5227) to bring rebound. On the upside, break of 1.5704 will resume the rally from 1.4281.

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) 1.5674; (P) 1.5703; (R1) 1.5747; More…

Intraday bias in EUR/AUD remains neutral but risk stays on the downside with 1.5849 resistance intact. Consolidation pattern from 1.5250 might have completed just missing 38.2% retracement of 1.6827 to 1.5250 at 1.5852. Below 1.5657 will target 1.5418 support first. Sustained break there will solidify this bearish case and target a retest of 1.5250 low. However, on the upside, 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.

Daily Pivots: (S1) 1.6045; (P) 1.6098; (R1) 1.6169; More….

EUR/AUD gyrates lower but stays in range of 1.5984/6357. Intraday bias remains neutral for the moment. As long as 1.5984 support holds, further rise is still expected. On the upside, break of 1.6357 will resume larger up trend and target 1.6587 key resistance next. On the downside, however, break of 1.5984 will be an early sign of trend reversal and turn outlook bearish.

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 and turn focus to 1.5601 support for confirmation.

Daily Pivots: (S1) 1.5593; (P) 1.5657; (R1) 1.5702; More…

EUR/AUD’s decline resumed after brief consolidation and intraday bias is back on the downside. Current fall from 1.6434 should target 161.8% projection of 1.6434 to 1.5907 from 1.6232 at 1.5379 next. On the upside, above 1.5753 minor resistance will turn intraday bias neutral again. But near term outlook will remain bearish as long as 1.5907 support turned resistance holds.

In the bigger picture, rise from 1.5250 medium term bottom is seen as a correction to the down trend from 1.9799 (2020 high) only. With 38.2% retracement of 1.9799 to 1.5250 at 1.6988 intact, such down trend is expected to resume at a later stage. Firm break of 1.5250 will target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. In any case, sustained break of 1.6988 fibonacci level is needed to indicate long term reversal.

Daily Pivots: (S1) 1.6328; (P) 1.6380; (R1) 1.6434; More…

EUR/AUD retreats sharply after hitting 1.6432 and intraday bias is turned neutral again. Choppy rise from 1.5905 should still extend as long as 1.6203 support holds. On the upside, break of 1.6432 will target 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) 1.6531; (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) 1.5840; (P) 1.5896; (R1) 1.5962; More…

EUR/AUD is staying below 1.5959 temporary top despite strong recovery. Intraday bias remains neutral for the moment. 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. On the upside, above 1.5959 affirm this week and target 1.6122 resistance for confirmation. On the downside, in case of another fall, downside should be contained above 1.5683 to bring rise resumption.

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.

Daily Pivots: (S1) 1.5728; (P) 1.5774; (R1) 1.5804; More…

Outlook in EUR/AUD remains unchanged as price actions from 1.5250 are seen as a consolidation pattern. Upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852 to bring down trend resumption. Break of 1.5603 minor support will turn bias to the downside for retesting 1.5250 low. 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.

Daily Pivots: (S1) 1.5765; (P) 1.5855; (R1) 1.5941; More…

EUR/AUD spiked higher to 1.5944 but quickly retreated. Intraday bias stays neutral first. On the upside break of 1.5944 will resume the rise from 1.5559 to 1.6168 first. On the downside, break of 1.5559 will resume the fall from 1.6168 to retest 1.5250/5354 support zone.

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.

Daily Pivots: (S1) 1.3710; (P) 1.3757; (R1) 1.3791; More…

EUR/AUD’s fall is still in progress and intraday bias remains on the downside for 1.3671 key support level. At this point, we’d expect strong support around 1.3671 to bring rebound. On the upside, above 1.3888 minor resistance will turn bias neutral first. Firm break of 1.4025 support turned resistance will indicate short term bottoming and turn focus back to 1.4289 resistance.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Deeper fall could be seen but, we’d expect strong support above 1.3671 to contain downside and bring rebound. Up trend from 1.1602 should not be finished and will resume later. Break of 1.4721 resistance will indicate completion of such correction and outlook bullish for retesting 1.6587 high. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.

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Daily Pivots: (S1) 1.6243; (P) 1.6330; (R1) 1.6373; More…

EUR/AUD remains neutral for the moment and more sideway trading could be seen. Further decline is expected as long as 1.6772 resistance holds. On the downside, break of 1.6033 will resume whole decline from 1.9799 and target next support level at 1.5346. On the upside, though, break of 1.6772 will indicate short term bottoming and turn bias to the upside for 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 week remain the preferred case now as long as 1.7194 resistance holds.

Daily Pivots: (S1) 1.5497; (P) 1.5550; (R1) 1.5619; More…

EUR/AUD is staying in consolidation from 1.5747 and intraday bias stays neutral. As long as 1.5271 support holds, further rally is expected. On the upside, firm break of 1.5747 will resume larger rally from 1.4281. Next target is 61.8% projection of 1.4281 to 1.5704 from 1.5271 at 1.6150.

In the bigger picture, as long as 1.5271 support holds, rise from 1.4281 medium term bottom is expected to continue to 1.6434 key resistance next. However, firm break of 1.5271 will argue that such rebound has completed, and keep medium term outlook neutral at best. But in this case, more range trading should be seen above 1.4281 low first.