Daily Pivots: (S1) 1.6621; (P) 1.6654; (R1) 1.6709; More…
Intraday bias in EUR/AUD stays on the upside for retesting 1.6800 resistance. Break there will resume the rise from 1.5963 to 61.8% projection of 1.5963 to 136800 from 1.6355 at 1.6872. Sustained trading above there should bring upside acceleration to 100% projection at 1.7192, which is close to 1.7180 high. On the downside, below 1.6597 minor support will delay the bullish case and turn intraday bias neutral first.
In the bigger picture, with 1.5996 key support (2024 low) intact, larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5996 will indicate that such up trend has completed and deeper decline would be seen.
