Daily Pivots: (S1) 1.4533; (P) 1.4546; (R1) 1.4559; More…
Intraday bias in EUR/AUD remains neutral first, but further fall is expected. On the downside, break the 1.4508 will resume the decline from 1.5396 to retest 1.4318 low. Nevertheless, break of 1.4804 resistance will now turn bias back to the upside for stronger rebound.
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.
