EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6394; (P) 1.6474; (R1) 1.6519; More

EUR/AUD’s fall from 1.7062 resumed by breaking through 1.6452 support. Intraday bias is back on the downside for 1.6000 fibonacci level, as a larger scale correction. On the upside, break of 1.6650 resistance is needed to indicate short term bottoming. Outlook, outlook will stay mildly bearish in case of recovery.

In the bigger picture, fall from 1.7062 is probably correcting 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 should be seen there to bring rebound, at least on first attempt. This will remain the favored case as long as 1.6650 resistance holds.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6405; (P) 1.6442; (R1) 1.6498; More

Intraday bias in EUR/AUD remains neural as sideway consolidation continues. Further decline is in favor with 1.6772 resistance intact. 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6645; (P) 1.6719; (R1) 1.6793; More

Range trading continues in EUR/AUD and intraday bias stays neutral. On the downside, break of 1.6647 will extend the corrective fall from 1.7062 to 1.6259/6601 support zone. On the upside, firm break of 1.6887 resistance should confirm that correction from 1.7062 has completed at 1.6647. Further rally should be seen through 1.7062 to 1.7377 projection level.

In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will stay bullish as long as 1.5846 support holds, even in case of deep pull back.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5593; (P) 1.5623; (R1) 1.5655; More

Intraday bias in EUR/AUD stays mildly on the upside for the moment. Consolidation pattern from 1.5250 is in it’s third leg and should target 1.5689 resistance first. Break there will target 38.2% retracement of 1.6827 to 1.5250 at 1.5852. On the downside, though, break of 1.5526 will turn bias back to the downside for 1.5355 support and below.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5947; (P) 1.6051; (R1) 1.6108; More….

Despite recovery to 1.5154, EUR/AUD quickly reversed and intraday bias is turned neutral again. On the downside, break of 1.5696 will extend the pull back from 1.6765 to 61.8% retracement of 1.5346 to 1.6765 at 1.5888 and below. On the upside, above 1.6154 will turn bias to the upside for retesting 1.6765 high.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6161; (P) 1.6197; (R1) 1.6266; More

EUR/AUD breached 1.6231 resistance but retreated quickly. Intraday bias stays neutral first. On the upside, sustained break of 1.6231 will confirm completion of fall from 1.6448 at 1.5894. Further rise should then be seen to 1.6448 and above. On the downside, though, below 1.6093 minor support will turn intraday bias back to the downside for 1.5894 and below.

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 Weekly Outlook

Much volatility was seen in EUR/AUD last week. But it was bounded in range of 1.4791/5173, without making any progress. Initial bias is neutral this week first. On the upside, break of 1.5173/5226 resistance zone will finally resume larger rise from 1.3624. On the downside, break of 1.4791 support will turn bias to the downside and extend the fall from 1.5173 to retest 1.4421 support.

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. The corrective structure of the price actions from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6177; (P) 1.6225; (R1) 1.6251; More

Range trading continues in EUR/AUD and intraday bias stays neutral. As long as 1.6772 resistance holds, further decline is expected. 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5153; (P) 1.5241; (R1) 1.5304; More

Intraday bias in EUR/AUD neutral and outlook is unchanged. As long as 1.5354 support turned resistance holds, further decline is still expected. On the downside, break of 1.4920 minor support should resume larger down trend to 161.8% projection of 1.6343 to 1.5354 from 1.6223 at 1.4476. However, sustained break of 1.5354 will bring stronger rise back towards 1.6223 resistance.

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 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 Daily Outlook

Daily Pivots: (S1) 1.4759; (P) 1.4854; (R1) 1.4935; More

Intraday bias in EUR/AUD stays neutral for the moment, and further rise 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6512; (P) 1.6589; (R1) 1.6700; More

Intraday bias in EUR/AUD remains neutral at this point. On the downside, break of 1.6449 will target 1.6319 support first. Firm break there will resume the whole decline from 1.7062. However, above 1.6843 will resume the rebound from 1.6319 towards 1.7062 resistance instead.

In the bigger picture, current development suggests that 1.7062 is already a medium term top. Fall from there is seen as a correction to the up trend from 1.4281 (2022 low). While deeper decline might be seen, strong support should emerge from 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to contain downside. However, sustained break of 1.6000 will raise the chance of bearish tend reversal.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.4860; (P) 1.4904; (R1) 1.4928; More….

With 1.5042 minor resistance intact, deeper decline is expected in EUR/AUD to 1.4732 support. Decisive break there confirm that fall from 1.5173 is the third leg of consolidation pattern from 1.5226. In that case, further fall should be seen to 1.4421 again. But we’d expect strong support from there to contain downside and bring rebound. On the upside, above 1.5042 minor resistance will turn bias back to the upside for 1.5173/5226 resistance zone instead.

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 price actions from 1.5226 is affirming this view. Above 1.5226 will target a test on 1.6587 key resistance. However, break of 1.4421 support will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6186; (P) 1.6223; (R1) 1.6297; More

Intraday bias in EUR/AUD is turned neutral first with current recovery. On the upside, break of 1.6319 resistance will now indicate short term bottoming, on bullish convergence condition in 4H MACD. Intraday bias will be back on the upside for 1.6478 resistance. Nevertheless, on the downside, below 1.6148 will resume recent decline for 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6622; (P) 1.6676; (R1) 1.6781; More

While EUR/AUD’s rebound from 1.6449 extends, it’s capped below 1.6843 resistance so far. Near term outlook is mixed and intraday bias stays neutral. On the downside, break of 1.6449 will target 1.6319 support first. Firm break there will resume the whole decline from 1.7062. However, above 1.6843 will resume the rebound from 1.6319 towards 1.7062 resistance instead.

In the bigger picture, current development suggests that 1.7062 is already a medium term top. Fall from there is seen as a correction to the up trend from 1.4281 (2022 low). While deeper decline might be seen, strong support should emerge from 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to contain downside. On the other hand, break of 1.6843 resistance will revive medium term bullishness that larger up trend is still in progress.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5841; (P) 1.5922; (R1) 1.5983; More

Intraday bias in EUR/AUD stays neutral for the moment. As long as 1.5776 minor 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.4479; (P) 1.4555; (R1) 1.4692; More

EUR/AUD is staying in range below 1.4712 resistance. Intraday bias remains neutral and further decline is still expected. On the downside, firm break of 1.4318 low will resume larger down trend to medium term projection level at 1.3623. On the upside, break of 1.4712 resistance will turn bias back to the upside for stronger rebound, towards 1.5396 resistance.

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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5026; (P) 1.5113; (R1) 1.5190; More

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, break of 1.4882 support will reaffirm that case that corrective rebound from 1.4318 has completed at 1.5277, ahead of 1.5354 resistance. Intraday bias will be back on the downside for 1.4597 support first. Break there will bring retest of 1.4318 low. For now, risk will stay on the downside as long as 1.5277 resistance holds.

In the bigger picture, as long as 1.5354 support turned resistance holds, larger down trend form 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.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5254; (P) 1.5358; (R1) 1.5422; More….

Intraday bias in EUR/AUD remains neutral at this point. Current development argues that fall from 1.5770 is not completed yet. On the downside, below 1.5259 will turn intraday bias to the downside for 1.5153. Break will target 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950).

In the bigger picture, price actions from 1.5770 so far suggests that it’s corrective in nature. That is, medium term rise from 1.3624 is not completed yet. Break of 1.5770 will extend the rise to retest 1.6587 (2015 high). However, considering bearish divergence condition in daily MACD, sustained break of 1.4949 cluster support (38.2% retracement of 1.3624 to 1.5770 at 1.4950) will indicate medium term reversal. And there is prospect of retesting 1.3624 low in that bearish case.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6263; (P) 1.6325; (R1) 1.6433; More

EUR/AUD’s break of 1.6343 resistance suggest short term bottoming at 1.6122. Intraday bias is turned back to the upside for 1.6827 resistance, to extend the consolidation pattern from 1.6033 with another rising leg. On the downside, break of 1.6122 will bring retest of 1.6033 low.

In the bigger picture, price action from 1.9799 are seen as developing into a corrective pattern. The question is whether it’s a sideway pattern or a deep correction. On the downside, sustained break of 1.6033 will suggest it’s the latter case and target 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. On the upside, break of 1.6827 resistance will favor the former case and bring stronger rebound.

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.5506; (P) 1.5532; (R1) 1.5564; More….

EUR/AUD is staying in consolidation from 1.5656 and intraday bias remains neutral. Downside of retreat should be contained by 4 hour 55 EMA (now at 1.5473) and bring rise resumption. Above 1.5656 will extend the rally from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4949 at 1.5939 first. Nonetheless, sustained break of 4 hour 55 EMA will bring deeper fall back towards 1.5079 support instead.

In the bigger picture, we’re holding on to the view that corrective decline from 1.6587 medium term top (2015 high) has completed at 1.3624. Rise from 1.3624 is expected to extend to retest 1.6587. We’ll hold on to this bullish view as long as 1.5226 resistance turned support holds. Firm break of 1.6587 will resume long term rise from 1.1602 (2012 low).