Daily Pivots: (S1) 1.6113; (P) 1.6211; (R1) 1.6272; More…
Intraday bias in EUR/AUD is back on the downside with break of 1.6185. Deeper decline would be seen to retest 1.5996 key support level. On the upside, above 1.6351 will resume the rebound from 1.6002 to 38.2% of 1.7180 to 1.6002 at 1.6452.
In the bigger picture, as long as 1.5996 support holds, up trend from 1.4281 (2022 low) is still expected to resume at a later stage. However, decisive break of 1.5996 will argue that the medium term trend has reversed and turn outlook bearish.
