Daily Pivots: (S1) 1.6346; (P) 1.6399; (R1) 1.6428; More…
Intraday bias in EUR/AUD stays neutral at this point. Further rise is expected as long as 1.6356 minor support holds. Firm break of 1.6514 will resume the rebound from 1.6134 to retest 1.6785 high. On the downside, however, break of 1.6309 minor support will turn bias back to the downside for 1.6134 support and below, to resume the fall from 1.6785.
In the bigger picture, whole down trend from 1.9799 (2020 high) should have completed at 1.4281 (2022 low). Further rise should be seen to 61.8% retracement of 1.9799 to 1.4281 at 1.7691 next. For now, outlook will stay bullish as long as 1.5976 resistance turned support holds, even in case of deep pull back.
