Daily Pivots: (S1) 1.6855; (P) 1.6929; (R1) 1.7016; More…
Intraday bias in EUR/AUD remains on the upside for the moment. Current rise from 1.5963 should target 100% projection of 1.5963 to 1.6800 from 1.6355 at 1.7192, which is close to 1.7180 high. On the downside, below 1.6884 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
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.
