Daily Pivots: (S1) 1.6437; (P) 1.6479; (R1) 1.6528; More…
Intraday bias in EUR/AUD remains neutral at this point. Below 1.6355 will extend the corrective pattern from 1.6800 to 61.8% retracement of 1.5963 to 1.6800 at 1.6283. On the upside, firm break of 1.6631 resistance will suggest that the correction has likely completed, and rise from 1.5963 is finally ready to resume.
In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.
