Daily Pivots: (S1) 1.7175; (P) 1.7271; (R1) 1.7321; More…
Intraday bias in EUR/AUD is turned neutral with current retreat. Some consolidations should be seen first. But downside should be contained by 0.6990 support to bring rebound. Meanwhile, break of 1.7417 will resume rise from 1.6335 to 161.8% projection of 1.5963 to 1.6800 from 1.6355 at 1.7709 next.
In the bigger picture, up trend from 1.4281 (2022 low) is resuming. Sustained trading above 1.7180 key resistance will pave the way to 61.8% projection of 1.4281 to 1.7062 from 1.5963 at 1.7682, which is also close to 61.8% retracement of 1.9799 (2020 high) to 1.4281 at 1.7691. For now, this will remain the favored case as long as 1.6355 support holds, even in case of deep pullback.
