Daily Pivots: (S1) 1.6148; (P) 1.6188; (R1) 1.6218; More….

EUR/AUD’s break of 1.6145 minor support suggests that rebound from 1.5984 has completed at 1.6357 already. Intraday bias is turned to the downside for 1.5984. For now, we’re still viewing price actions from 1.6353 as a consolidation pattern. Thus, downside should be continued by 1.5984 to bring up trend resumption eventually. On the upside, above 1.6226 minor resistance will turn bias back to the upside for retesting 1.6357 first.

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) 1.5979; (P) 1.6051; (R1) 1.6117; More…

Intraday bias in EUR/AUD remains on the upside with focus on 1.6122 key resistance. Decisive break will confirm the bullish view that correction from 1.6765 has completed with three waves down to 1.5683. In this case, further rise should be seen back to retest 1.6765 high. On the downside, break of 1.5905 support is needed to indicate completion of the rise from 1.5683. Otherwise, near term outlook will remain bullish in case of retreat.

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.

EUR/AUD edged higher to 1.5877 last week but again, failed to sustain above 38.2% retracement of 1.6827 to 1.5250 at 1.5852. Initial bias remains neutral this week first. On the downside, break of 1.5699 support will suggest rejection by 1.5852 fibonacci level. Intraday bias will be turned back to the downside for 1.5418 support first. Break there should confirm completion of consolidation pattern from 1.5250. On the upside, break of 1.5877 will extend the near term rebound to 1.6033 key 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. However, firm break of 1.6033 will argue that such decline has completed, and turn focus to 1.6827 structural resistance for confirmation.

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) 1.6224; (P) 1.6268; (R1) 1.6299; More…

Range trading continues in EUR/AUD and intraday bias remains neutral. Fall from 1.6785 might be a correction to whole up trend from 1.4281. Break of 1.6134 will target 38.2 retracement of 1.4281 to 1.6785 at 1.5828, which is inside 1.5254/5976 support zone. Nevertheless, sustained break of 1.6354 minor resistance will turn bias back to the upside for retesting 1.6785 high instead.

In the bigger picture, whole down trend from 1.9799 (2020 high) should have completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.5740; (P) 1.5794; (R1) 1.5880; More….

Intraday bias in EUR/AUD remains on the upside at this point. Fall from 1.6357 should have completed earlier than expected at 1.5346. Further rise should be seen to 1.5984 support turned resistance first. Break will bring retest of 1.6357 high. On the downside, break of 1.5706 minor support will turn intraday bias neutral and bring consolidation first, before staging another rally.

In the bigger picture, no change in the view that 1.6357 is a medium term top. But the strong rebound ahead of 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313) suggests price actions from 1.6357 are developing into sideway consolidation, rather than a deep correction. The range of 1.5271/6357 is likely set for the consolidation. And we don’t expect a break of the range any time soon. But decisive break of 1.6357 will resume the larger up trend from 1.3624 (2017 low) to 1.6587 (2015 high).

Daily Pivots: (S1) 1.5738; (P) 1.5883; (R1) 1.5974; More…

Intraday bias in EUR/AUD stays neutral first despite the sharp fall. Another rise would be mildly in favor as long as 1.5743 resistance turned support holds. Break of 1.6168 will resume the rise from 1.5354 to 1.6434 high. However, firm break of 1.5743 will indicate that such rebound is over and bring deeper fall back to 1.5250/5354 support zone.

In the bigger picture, medium term outlook is neutral for the moment. Rise from 1.5354 is seen as the third leg of the corrective pattern from 1.5250 low first. Further rise could be seen through 1.6434 towards 38.2% retracement of 1.9799 to 1.5250 at 1.6988. On the downside, however, sustained trading below 55 day EMA (now at 1.5759) will turn focus back to 1.5250 low instead.

Daily Pivots: (S1) 1.5569; (P) 1.5644; (R1) 1.5687; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, break of 1.5585 minor support should confirm rejection by 55 day EMA (now at 1.5755). Intraday bias will be turned back to the downside to extend the fall from 1.6434 through 1.5354. On upside, however, sustained break of 55 day EMA will argue that whole fall from 1.6434 has completed and bring stronger rally.

In the bigger picture, the down trend from 1.9799 (2020 high) is in progress. Firm break of 1.5250 low will confirm resumption and target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. Sustained break there could bring more downside acceleration to 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623. In any case, break of 1.6434 resistance is needed to signal medium term bottoming, or outlook will stay bearish.

Daily Pivots: (S1) 1.4939; (P) 1.4991; (R1) 1.5065; More…

EUR/AUD reaches as high as 1.5074 but falls sharply ahead of 1.0594 resistance. Intraday bias is turned neutral for consolidations first. Deeper retreat could be seen but outlook will remain bullish as long as 1.4669 support holds. We’re holding on to the view of trend reversal. Break of 1.5094 will extend the rise 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.

Daily Pivots: (S1) 1.5840; (P) 1.5886; (R1) 1.5927; More…

Intraday bias in EUR/AUD remains neutral and outlook is unchanged. As long as 1.5776 support holds, further rise remains mildly in favor. Above 1.6002 will turn bias to the upside for 1.6223 resistance first. However, on the downside, break of 1.5776 will turn bias back to the downside for 1.5559 support instead.

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) 1.6672; (P) 1.6756; (R1) 1.6802; More…

EUR/AUD fails to break through 1.6843 resistance decisively and retreated. Intraday bias is turned neutral first. On the upside, sustained break of 1.6843 will resume the rebound from 1.6319 for retesting 1.7062 high next. On the downside, however, below 1.6666 minor support will turn bias back to the downside for 1.6449 support instead.

In the bigger picture, while 1.7062 is a medium term top, there is no clear sign of trend reversal as EUR/AUD continues to draw strong support from the medium term trend line. Break of 1.7062 will resume the larger up trend from 1.4281 (2022 low) to 1.7691 fibonacci level. Nevertheless, break of 1.6449 support will argue that deeper correction is underway to 38.2% retracement of 1.4281 to 1.7062 at 1.6000.

Daily Pivots: (S1) 1.5738; (P) 1.5833; (R1) 1.5887; More…

EUR/AUD reached as low as 1.5780 but recovered since then. It’s also kept in range of 1.5721/6122. Intraday bias remains neutral first and more consolidation could still be seen. On the downside, break of 1.5721 low will resume the fall from 1.6765 and target 1.5346 support next. On the upside, though, break of 1.6122 will extend the pattern from 1.5721 with another rise.

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.

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.

Daily Pivots: (S1) 1.6110; (P) 1.6133; (R1) 1.6173; More…

EUR/AUD’s recovery from 1.5894 might extend higher. But it’s seen as a corrective move. Therefore, upside should be limited below 1.6231 resistance to bring fall resumption. Decline from 1.6448 is seen as the third leg of the consolidation pattern from 1.6765 high. Break of 1.5894 will target 1.5683 support and below. Nevertheless, firm break of 1.6231 will dampen this view and target 1.6448 resistance instead.

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.

EUR/AUD dropped further to 1.4508 last week but recovered since then. A short term bottom is probably in place on bullish convergence condition in 4 hour MACD. Initial bias is mildly on the upside for recovery. But upside should be limited below 1.4910 resistance to bring another fall. Break of 1.4508 will target a test on 1.4318 low.

In the bigger picture, rejection by 1.5354 support turned resistance, as well as 55 week EMA (now at 1.5378), maintain medium term bearishness. That is, larger down trend from 1.9799 is not completed yet. 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.

In the longer term picture, fall from 1.9799 (2020 high) is seen as the third leg of the pattern from 2.1127 (2008 high). Deeper fall should be seen to 1.3624 support. Decisive break there would pave the way back to 1.1602 (2012 low). This will remain the favored case as long as 55 month EMA (now at 1.5656) holds.

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.

Daily Pivots: (S1) 1.5409; (P) 1.5488; (R1) 1.5540; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.5650 resistance 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.

Daily Pivots: (S1) 1.6393; (P) 1.6454; (R1) 1.6496; More…

Intraday bias in EUR/AUD remains neutral for the moment, and further rise is in favor. Break of 1.6514 will resume the rebound from 1.6134 to retest 1.6785 high. On the downside, however, firm break of 1.6356 minor support will turn bias back to the downside for 1.6134 support and below, to resume the fall from 1.6785.

In the bigger picture, whole down trend from 1.9799 (2020 high) should have completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.

Daily Pivots: (S1) 1.5878; (P) 1.5938; (R1) 1.6000; More…

EUR/AUD continues to lose downside momentum as seen in 4H MACD. Strong support is still expected from around 100% projection of 1.6785 to 1.6134 from 1.6513 at 1.5862 to complete the fall from 1.6785. On the upside, break of 1.6101 resistance will confirm short term bottoming, and turn bias back to the upside for rebound.

In the bigger picture, a medium term is possibly in place at 1.6785 already, on bearish divergence condition in D MACD. Fall from there is seen as corrective whole up trend from 1.4281 (2022 low). Deeper decline is expected as long as 1.6513 resistance holds, to 38.2% retracement of 1.4281 to 1.6785 at 1.5828. Strong support could be seen there to complete the first leg of the corrective pattern.

Daily Pivots: (S1) 1.5860; (P) 1.5924; (R1) 1.6007; More…

Intraday bias in EUR/AUD stays neutral for the moment. Further rally will remain in favor as long as 1.5776 support holds. Above 1.6223 will resume whole rise from 1.5354 to 1.6434 resistance first. However, break of 1.5776 will turn bias back to the downside for 1.5559 support instead.

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.

EUR/AUD rose to as high as 1.6584 last week but still couldn’t break through 1.6586 key resistance. Initial bias remains neutral this week first and we cannot rule out more range trading. however, sustained break of 1.6586 will 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 1.5823). 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 1.6453) would neutralize the long term bearishness and argues that price actions from 1.9799 are developing into a sideway range pattern instead.

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.