Daily Pivots: (S1) 1.6453; (P) 1.6529; (R1) 1.6621; More…

EUR/AUD failed to break through 1.6671 resistance and retreated sharply. Intraday bias is turned neutral again first. 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, break of 1.6438 will bring deeper fall back to 1.6127 support instead.

In the bigger picture, fall from 1.7062 medium term top is seen as 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.

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) 1.4743; (P) 1.4804; (R1) 1.4848; More…

Intraday bias in EUR/AUD remains on the upside for next medium term fibonacci level at 1.5455. On the downside, touching 1.4649 minor support will turn bias neutral and bring consolidation. But retreat should be contained by 1.4442 support and bring rise resumption.

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) 1.5987; (P) 1.6034; (R1) 1.6089; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, break of 1.6116 will argue that pull back from 1.6434 has completed after defending 1.5898 structural support. Larger rise from 15250 is still in progress. Intraday bias will be turned back to the upside for retesting 1.6434 first. On the downside, however, firm break of 1.5898 will argue that corrective rise from 1.5250 has already completed. Near term outlook will be turned bearish for 1.5614 support next.

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.

Daily Pivots: (S1) 1.6315; (P) 1.6380; (R1) 1.6434; More…

EUR/AUD is staying in consolidation from 1.6033 and intraday bias remains neutral first. Further decline is expected with 1.6772 resistance intact. On the downside, break of 1.6033 will resume the fall from 1.9799 and target 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) 1.6347; (P) 1.6452; (R1) 1.6522; More…

Intraday bias in EUR/AUD remains neutral but further rally is in favor with 1.6231 support intact. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. Above 1.6601 will resume the rise from 1.5864 to retest 1.6785 high next.

In the bigger picture, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.

Daily Pivots: (S1) 1.6132; (P) 1.6181; (R1) 1.6234; More..

Further decline could be seen in EUR/AUD with 1.6313 minor resistance holds. But considering bullish convergence condition in 4H MACD, stronger support could be seen from 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 to bring rebound. On the upside, firm break of 1.6313 resistance should indicate short term bottoming, and turn bias back to the upside for 1.6478 resistance.

In the bigger picture, fall from 1.7062 medium term top is seen as correcting the whole up trend from 1.4281 (2022 low). Deeper decline would be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Strong support could be seen there to bring rebound on first attempt. But risk will stay on the downside as long as 1.6844 resistance holds. Sustained break of 1.6000 would bring further fall to 61.8% retracement at 1.5343.

Daily Pivots: (S1) 1.5467; (P) 1.5510; (R1) 1.5550; More…

No change in EUR/AUD’s outlook as it’s staying in consolidation from 1.5250. On the upside, in case of another rise, upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, break of 1.5234 will bring retest of 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) 1.6081; (P) 1.6121; (R1) 1.6189; More….

EUR/AUD’s rally is still in progress and intraday bias remains on the upside. Current rise should target 100% projection of 1.5130 to 1.5976 from 1.5621 at 1.6444 next. On the downside, below 1.6039 minor support will turn intraday bias neutral and bring consolidation first. But retreat should be contained well above 1.5621 support to bring rally resumption.

In the bigger picture, current development suggests that rise from 1.3624 is not completed yet. And it’s still in progress for 1.6587 key resistance level. We’d be cautious on strong resistance from there to limit upside, on bearish divergence condition in daily MACD. But for now, break of 1.5621 support is needed to be the first sign of medium term reversal. Otherwise, outlook will stays bullish even in case of deep pull back.

Daily Pivots: (S1) 1.5753; (P) 1.5846; (R1) 1.5904; More….

Break of 1.5823 minor support indicates short term topping at 1.5816, on bearish divergence condition in 4 hour MACD. Intraday bias is turned to the downside for pull back. At this point, we’d expects strong support from 1.5626 to contained downside to bring rebound. But break of 1.5976 is needed to confirm up trend resumption. Otherwise, more consolidation would be seen first.

In the bigger picture, medium term rise from 1.3624 is still in progress for 1.6587 key resistance. At this point, we’d be cautious on strong resistance from there to limit upside. But decisive break will confirm resumption of long term rise from 1.1602. On the downside, break of 1.5153 support is needed to indicate completion of the medium term rise. Otherwise, outlook will remain bullish in case of pull back.

EUR/AUD dipped to 1.6247 last week but quickly rebounded after drawing support from 1.6255. Outlook is unchanged and initial bias stays neutral this week first. Further rally remains in favor. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. Above 1.6552 will target a retest on 1.6785 high next. Nevertheless, on the downside, firm break of 1.6255 will dampen this view and turn bias to the downside for 1.5846 support.

In the bigger picture, with 38.2% retracement of 1.4281 to 1.6785 at 1.5828 intact, rally from 1.4281 is still in progress. Firm break of 1.6785 will confirm rise resumption. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. On the other hand, rejection by 1.6785 will extend the corrective pattern with another fall leg. But outlook will stay bullish as long as 1.5828 holds.

In the longer term picture, it’s still early to decide if rise from 1.4281 is resuming whole up trend from 1.1602 (2012 low). But in either case, further rally is in favor as long as 1.5254 support holds. Next target is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.

Daily Pivots: (S1) 1.6211; (P) 1.6263; (R1) 1.6352; More…

EUR/AUD’s break of 1.6294 resistance suggests resumption of rise from 1.5962. Intraday bias is back on the upside for 1.6432 resistance first. Break there will pave the way to retest 1.6785 high. On the downside, break of 1.6106 support is now needed to confirm completion of the current rally. Otherwise, near term outlook will remain bullish in case of retreat.

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 1.6082) firmly taken out too. That should indicate medium term topping and target 1.5346 key support next.

Daily Pivots: (S1) 1.5735; (P) 1.5787; (R1) 1.5820; More…

Intraday bias in EUR/AUD remains neutral for the moment. At this point, we’re slightly favoring the case the rebound from 1.5354 has completed with three waves up to 1.6168. Below 1.5655 will affirm this case and target 1.5354 and then 1.5250 low. However, above 1.5905 will turn bias back to the upside for retesting 1.6168 instead.

In the bigger picture, medium term outlook remains neutral for the moment. 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 gyrated in range of 1.5721/6122 last week and outlook is unchanged. Initial bias remains neutral this week first. Price actions from 1.7521 are seen as a consolidation pattern and thus, fall from 1.6765 is in favor to resume later. On the downside, break of 1.5721 low will confirm this case 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.

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) 1.5681; (P) 1.5775; (R1) 1.5828; More….

EUR/AUD’s break of 1.5774 suggests fall from 1.6765 has resumed. Intraday bias is turned to the downside for 1.5346 key support. On the upside, break of 1.6038 resistance is needed to indicate completion of the decline. Otherwise, further fall is still expected even in case of recovery.

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.

EUR/AUD’s consolidation pattern from 1.5250 continued last week and overall outlook is unchanged. Initial bias stays neutral this week for some more sideway trading. Another rise cannot be ruled out, but upside should be limited by 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, break of 1.5234 will bring retest of 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.

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 1.5810) further affirms this case and could bring deeper decline to 1.1602/3624 support zone.

Daily Pivots: (S1) 1.4817; (P) 1.4858; (R1) 1.4895; More…

Intraday bias in EUR/AUD remains neutral for the moment. With 1.4813 minor support intact, holds, we’re favoring the bullish case that pull back from 1.5226 has completed at 1.4625, ahead of 38.2% retracement of 1.3624 to 1.5226 at 1.4614. Above 1.4997 will turn bias back to the upside for 1.5226 first. However, break of 1.4813 will dampen this view and turn bias back to the downside for 1.4625 support.

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 would extend to 61.8% retracement of 1.6587 to 1.3624 at 1.5455. Sustained break there will pave the way to retest 1.6587. However, sustained break of 1.4669 support will dampen this bullish view. We’ll assess the outlook later after looking at the structure and depth of the pull back.

Daily Pivots: (S1) 1.5430; (P) 1.5507; (R1) 1.5551; More….

EUR/AUD’s decline accelerates to as low as 1.5397 so far and intraday bias stays on the downside. Current fall from 1.6357 should target 1.5271/5313 cluster support zone next. On the upside, above 1.5505 minor resistance will turn intraday bias neutral and bring consolidation. But recovery should be limited below 1.5781 resistance to bring fall resumption.

In the bigger picture, current development argues that up trend from 1.3624 (2017 low) is possibly completed at 1.6357, ahead of 1.6587 (2015 high). This is supported by bearish divergence condition in weekly MACD. Deeper decline is now in favor to 1.5271 cluster support (38.2% retracement of 1.3624 to 1.6357 at 1.5313). Break will target 61.8% retracement at 1.4668. This will remain the favored case as long as 1.5781 resistance holds.

Daily Pivots: (S1) 1.4907; (P) 1.4947; (R1) 1.4973; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the upside, above 1.5019 will resume the rise from 1.4421 and target a test on 1.5226 high. On the downside, below 1.4732 will extend the consolidation from 1.5226 with another fall. But we’d expect 1.4421 cluster support (50% retracement of 1.3624 to 1.5226 at 1.4427) to hold and bring rebound.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. The corrective structure of the fall from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.4101; (P) 1.4154; (R1) 1.4211; More…

Initial bias in EUR/AUD remains on the upside for the moment. Further rally should be seen to 100% projection of 1.3624 to 1.4183 from 1.3872 at 1.4431 next. Decisive break there will indicate upside acceleration and target 1.4721 key resistance. On the downside, below 1.4051 minor support will turn focus back to 1.3872 support instead.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. Such correction could be completed after testing 1.3671 support. Break of 1.4721 cluster resistance (38.2% retracement of 1.6587 to 1.3624 at 1.4756) should confirm this case and target 61.8% retracement at 1.5455 and above. Overall, we’d expect the up trend from 1.1602 to resume later. However, sustained break of 1.3671 will invalidate our bullish view and would turn focus back to 1.1602 long term bottom.