Daily Pivots: (S1) 1.6236; (P) 1.6278; (R1) 1.6357; More…
A temporary low was formed at 1.6184 with current recovery and intraday bias in EUR/AUD is turned neutral first. But t outlook will remains bearish as long as 1.6629 resistance holds. Break of 1.6184 will extend the whole decline from 1.7180 and target 61.8% projection of 1.7180 to 1.6256 from 1.6629 at 1.6058, which is close to 1.5996 key support level.
In the bigger picture, outlook is mixed up by the deeper than expected fall from 1.7180. Yet as long as 1.5996 support holds, up trend from 1.4281 (2022 low) is still in favor to resume at a later stage. Firm break of 1.7180 will pave the way to 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715.
