Daily Pivots: (S1) 1.6743; (P) 1.6799; (R1) 1.6845; More…
Range trading continues in EUR/AUD and intraday bias stays neutral. Further rise is mildly in favor as long as 1.6737 support holds. On the upside, break of 1.7062 resistance will resume larger up trend to 1.7377 projection level next. However, firm break of 1.6737 will bring deeper pull back to 1.6601 resistance turned support instead.
In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will stay bullish as long as 1.5846 support holds, even in case of another pull back.
