Daily Pivots: (S1) 1.4565; (P) 1.4607; (R1) 1.4646; More…
Intraday bias in EUR/AUD stays neutral first, but the strong support from 4 hour 55 EMA is a bullish sign. Break of 1.4738 will resume the rebound from 1.4281. Further break of 1.4804 resistance will bring stronger rally back towards 1.5396. On the downside, decisive break of 1.4318 low will resume larger down trend to medium term projection level at 1.3623.
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.
