Daily Pivots: (S1) 1.6275; (P) 1.6324; (R1) 1.6398; More…
Intraday bias in EUR/AUD remains neutral at this point. On the upside, firm break of 1.6381 resistance will confirm short term bottoming at 1.6211. Intraday bias will be back on the upside for 55 D EMA (now at 1.6411) and above. On the downside, break of 1.6211 will resume larger corrective decline from 1.7062 to 1.6127 support.
In the bigger picture, fall from 1.7062 medium term top is seen as a correction to the up trend from 1.4281 (2022 low). In case of deeper fall, strong support is expected around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.7062 is in favor as a later stage.
 and above. On the downside, break of 1.6211 will resume larger corrective decline from 1.7062 to 1.6127 support.){kind=link}