Daily Pivots: (S1) 1.6440; (P) 1.6473; (R1) 1.6499; More…
Intraday bias in EUR/AUD is back on the downside as fall from 1.7180 resumes today. Sustained trading below 55 D EMA (now at 1.6435) will argue that rise from 1.5996 has completed at 1.7180. Deeper fall would then be seen back to this support. ON the upside, though, above 1.6580 resistance will turn bias back to the upside for stronger rebound.
In the bigger picture, corrective fall from 1.7062 medium term top should have completed at 1.5996. Larger up trend from 1.4281 (2022 low) is resuming. Next target is 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. However, sustained break of 55 D EMA will dampen this bullish view and extend medium term range trading.
 will argue that rise from 1.5996 has completed at 1.7180. Deeper fall would then be seen back to this support. ON the upside, though, above 1.6580 resistance will turn bias back to the upside for stronger rebound.){kind=link}