Daily Pivots: (S1) 1.6446; (P) 1.6493; (R1) 1.6574; More… Intraday bias in EUR/AUD stays neutral at this point, for consolidation below 1.6601. Near term outlook stays cautiously bullish as long as 1.6231 support holds. On the upside, break of 1.6601 will target 1.6785 high next. However, firm break of 1.6231 will bring deeper fall to
EURAUD Outlook
EUR/AUD’s rebound from 1.5846 tried to resume last week, but retreated after edging higher to 1.6601. Initial bias remains neutral this week first. Near term outlook stays cautiously bullish as long as 1.6231 support holds. On the upside, break of 1.6601 will target 1.6785 high next. In the bigger picture, with 38.2% retracement of 1.4281
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
Daily Pivots: (S1) 1.6475; (P) 1.6539; (R1) 1.6610; More… EUR/AUD retreated quickly after edging higher to 1.6601 and intraday bias remains neutral for the moment. Further rally will remain in favor as long as 1.6231 support holds. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. Above 1.6601 will
Daily Pivots: (S1) 1.6438; (P) 1.6491; (R1) 1.6536; More… Focus stays on 1.6552 resistance in EUR/AUD. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. On the upside, break of 1.6552 will target a retest on 1.6785 high next. This will remain the favored case as long as 1.6231
Daily Pivots: (S1) 1.6423; (P) 1.6473; (R1) 1.6538; More… Immediate focus is now on 1.6552 resistance. As noted before, correction from 1.6785 should have completed with three waves down to 1.5846. On the upside, break of 1.6552 will target a retest on 1.6785 high next. This will remain the favored case as long as 1.6231
Daily Pivots: (S1) 1.6326; (P) 1.6382; (R1) 1.6477; More… EUR/AUD rises notably today but stays below 1.6552 resistance. Intraday bias remains neutral at this point. Outlook is unchanged that correction from 1.6785 should have completed with three waves down to 1.5846. On the upside, break of 1.6552 will target a retest on 1.6785 high next.