Daily Pivots: (S1) 1.6167; (P) 1.6241; (R1) 1.6295; More…
Intraday bias in EUR/AUD stays mildly on the downside with 1.6315 minor resistance intact. Current fall is part of the whole decline from 1.7180 and should target 61.8% projection of 1.7180 to 1.6256 from 1.6629 at 1.6058, which is close to 1.5996 key support level. On the upside, above 1.6315 minor resistance will turn intraday bias neutral first. But outlook will remains bearish as long as 1.6629 resistance holds.
In the bigger picture, outlook is mixed up by the deeper than expected fall from 1.7180. Yet as long as 1.5996 support holds, up trend from 1.4281 (2022 low) is still in favor to resume at a later stage. Firm break of 1.7180 will pave the way to 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715.
