Daily Pivots: (S1) 1.4720; (P) 1.4761; (R1) 1.4825; More…
EUR/AUD’s rebound from 1.4281 extends higher today and intraday bias is back on the upside. Stronger rally would be seen back towards 1.5396 resistance. On the downside, below 1.4564 minor support will turn bias back to the downside for 1.4281 low instead.
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.
