Daily Pivots: (S1) 1.4849; (P) 1.4887; (R1) 1.4939; More…

Intraday bias in EUR/AUD stays neutral at this point. Near term outlook remains bullish with 1.4777 support intact and further rally is expected. As noted before, correction from 1.5226 should have completed with three waves down to 1.4421 already. Above 1.4964 will target 1.5073 resistance first. Break of 1.5073 will likely resume the rise from 1.3624 and target 61.8% projection of 1.3624 to 1.5226 from 1.4421 at 1.5411 next. However, firm break of 1.4777 will dampen this bullish view and turn bias to the downside for 1.4564 support. Break will extend the correction from 1.5226 through 1.4421.

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 resume 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, another decline will dampen our view and would drag EUR/AUD lower to retest key support zone around 1.3624.

Daily Pivots: (S1) 1.6447; (P) 1.6488; (R1) 1.6524; More…

Sideway consolidation is still in progress in EUR/AUD and intraday bias remains neutral. 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.

Daily Pivots: (S1) 1.5350; (P) 1.5479; (R1) 1.5567; More…

EUR/AUD breached 1.5412 support briefly but quickly recovered. Intraday bias remains neutral first. On the upside, break of 1.5704 will resume the rally from 1.4281 to 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. However, on the downside, firm break of 1.5412 minor support will turn bias to the downside for deeper pull back.

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) 1.6542; (P) 1.6576; (R1) 1.6631; More…

Intraday bias in EUR/AUD stays neutral at this point. On the upside, firm break of 1.6606 will retain near term bullishness and bring retest of 1.6742. Break there will resume larger rise from 1.6127. On the downside, however, decisive break of 1.6450 support will argue that whole rebound from 1.6127 has completed with three waves up to 1.6742 already. Near term outlook will be turned bearish for 1.6127 again.

In the bigger picture, fall from 1.7062 medium term top is seen as a 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) 1.5986; (P) 1.6031; (R1) 1.6067; More…

EUR/AUD’s rebound from 1.5907 extends higher today and focus is now on 1.6116 resistance. Firm break there 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) 1.5678; (P) 1.5706; (R1) 1.5744; More…

Intraday bias in EUR/AUD remains mildly on the downside at this point. Consolidation pattern from 1.5250 might have completed at 1.5849, just missing 38.2% retracement of 1.6827 to 1.5250 at 1.5852. Deeper fall would be seen to 1.5148 support first. Sustained break there will solidify this bearish case and target a retest of 1.5250 low. But 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.

EUR/AUD stayed in consolidation below 1.5976 last week and outlook is unchanged. Initial bias stays neutral this week first but further rise is expected with 1.5614 support intact. On the upside, break of 1.5976 will resume the rise from 1.5250 to 1.6033 key support turned resistance next. Sustained break there will argue that longer term trend has reversed, and target 1.6827 resistance.

In the bigger picture, outlook stays bearish with 1.6033 support turned resistance intact for now. Fall from 1.9799, as a correction to to long term up trend from 1.1602 (2012 low) is still in favor to resume through 1.5250 later. However, firm break of 1.6033 will argue that such decline has completed. Stronger rebound would then be seen 38.2% retracement of 1.9799 to 1.5250 at 1.6988.

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) 1.5500; (P) 1.5578; (R1) 1.5655; More….

A temporary top is in place at 1.5656 with today’s sharp fall. Intraday bias in EUR/AUD is turned neutral first. Some consolidations could be seen. But downside should be contained by 4 hour 55 EMA (now at 1.5390) 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.

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).

Daily Pivots: (S1) 1.6329; (P) 1.6383; (R1) 1.6439; More…

Intraday bias in EUR/AUD is turned neutral with current retreat. Some consolidations could be seen but downside should be contained by 1.6182 resistance turned support to bring rebound. On the upside, break of 1.6434 will resume larger rise from 1.5250 to 1.6827 resistance next. On the downside, though, break of 1.6182 will bring deeper pull back to 1.5898 structural support.

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 would 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 and bring retest of 1.5250 low.

EUR/AUD’s rally and break of 1.5019 last week suggests that rebound from 1.4421 has resumed. More importantly, it revived the case that correction from 1.5226 has completed with three waves down to 1.4421. Initial bias is back on the upside this week for 1.5073 resistance first. Break there will affirm the case that whole rebound from 1.3624 is resuming and target 1.5226 high. On the downside, below 1.4882 minor support will turn intraday bias neutral first. But outlook will remain cautiously bullish as long as 1.4732 support holds.

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.

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) 1.5403; (P) 1.5461; (R1) 1.5525; More…

Intraday bias in EUR/AUD remains on the upside at this point. Current rally from 1.4281 should target 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. For now, outlook will remain bullish as long as 1.5165 support holds, in case of retreat.

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) 1.5719; (P) 1.5744; (R1) 1.5763; More…

Outlook in EUR/AUD remains unchanged and intraday bias stays neutral first. On the upside, sustained trading above 38.2% retracement of 1.6827 to 1.5250 at 1.5852 will bring further rise to 1.6033 key support turned resistance. On the downside, though, break of 1.5657 will be the first sign that consolidation from 1.5250 has finally completed. Intraday bias will be turned back to the downside for 1.5418 support first.

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.

Daily Pivots: (S1) 1.3921; (P) 1.3965; (R1) 1.4047; More…

Breach of 1.4014 temporary top suggests that pull back has completed at 1.3874, ahead of 1.3835 support. Intraday bias in EUR/AUD is turned back to the upside for 1.4289 resistance next. Current development, with a short term bottom formed at 1.3624, is taking as an early sign of larger trend reversal after defending 1.3671 key support. Break of 1.4289 will confirm this case and target 1.4721 resistance next. However, break of 1.3874 minor support will dampen our bullish view and turn bias back to the downside for 1.3624 instead.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a corrective pattern. We’d expect strong support from 1.3671 key level 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 turn 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.

Daily Pivots: (S1) 1.4888; (P) 1.4915; (R1) 1.4967; More….

No change in EUR/AUD’s outlook. With 1.5042 minor resistance intact, deeper decline is expected 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.

Daily Pivots: (S1) 1.6167; (P) 1.6209; (R1) 1.6243; More…

No change in EUR/AUD and intraday bias remains neutral for consolidation from 1.6033. Further decline is expected as long as 1.6772 resistance holds. 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) 1.6547; (P) 1.6585; (R1) 1.6608; More…

EUR/AUD is extending consolidation from 1.6742 and intraday bias stays neutral. Near term outlook will remain cautiously bullish as long as 1.6439 support holds. On the upside, above 1.6677 will target 1.6742 first. Decisive break there will resume whole rise from 1.6127 and target 1.6844 resistance next.

In the bigger picture, fall from 1.7062 medium term top is seen as a 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) 1.5308; (P) 1.5353; (R1) 1.5427; More….

EUR/AUD is still staying in range of 1.5153/5446 and intraday bias remain neutral for the moment. On the upside, break of 1.5446 resistance will revive the case that correction from 1.5770 has completed at 1.5153. In that case, intraday bias will be turned back to the upside for retesting 1.5770 first. However, break of 1.5153 will resume the fall from 1.5770 to 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.

Daily Pivots: (S1) 1.5811; (P) 1.5916; (R1) 1.6089; More….

EUR/AUD is staying in range of 1.5721/6060 and intraday bias remains neutral for the moment. On the upside, break of 1.6060 resistance should confirm that decline from 1.6765 has completed. Further rally should then be seen to retest 1.6765 high. On the downside, however, break of 1.5721 will extend the decline to 1.5346 support instead.

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) 1.4397; (P) 1.4429; (R1) 1.4477; More…

Intraday bias in EUR/AUD remains neutral for the moment. On the downside, break of 1.4072 will extend the correction from 1.6587 towards next key support level 1.3671. Meanwhile, decisive break of 1.4880 resistance will indicate that such correction from 1.6587 is completed and turn near term outlook bullish for 1.5094 resistance next.

In the bigger picture, price actions from 1.6587 medium term top are viewed as a consolidative pattern. 50% retracement of 1.1602 to 1.6587 at 1.4095 was already met. While further fall cannot be ruled out, 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 1.5094 will be the first sign of resumption of up trend from 1.1602 and target retesting 1.6587 resistance first.

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EUR/AUD’s sharp decline last week argues that rebound from 1.4421 is already completed at 1.5019. And, the corrective pattern from 1.5226 is still unfolding. Initial bias is neutral this week first with a temporary low in place at 1.4732. Below 1.4732 will bring 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. On the upside, above 1.5019 will target a test on 1.5226 high 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 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.

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.