Daily Pivots: (S1) 1.6142; (P) 1.6192; (R1) 1.6251; More….
Intraday bias in EUR/AUD remains on the upside for 1.6353 resistance. Break there will resume larger up trend and should target 1.6587 key resistance next. On the downside, break of 1.6051 will extend the correction from 1.6353 lower instead.
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 1.5886 resistance turned support is need to be the first sign of medium term reversal. Otherwise, outlook will remain bullish in case of deep pull back.
