Daily Pivots: (S1) 1.6665; (P) 1.6926; (R1) 1.7118; More…
Intraday bias in EUR/AUD is turned neutral first as it retreated after hitting 1.7180. Some consolidations would be seen but downside should be contained above 1.6474 support to bring another rally. On the upside, break of 1.7180 will resume larger up trend to 1.7715 fibonacci projection level next.
In the bigger picture, decisive break of 1.7062 resistance will confirm resumption of whole up trend from 1. 1.4281 (2022 low). Next target is 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. For now, further rally is expected as long as 55 D EMA (now at 1.6355) support holds, even in case of deep retreat.
