Daily Pivots: (S1) 1.7442; (P) 1.7533; (R1) 1.7679; More…
Intraday bias in EUR/AUD is turned neutral first with current recovery. On the upside, firm break of 1.7886 resistance will argue that fall from 1.8553 has completed as a correction at 1.7380. Intraday bias will be turned back to the upside for retesting 1.8554. However, sustained trading below 55 D EMA (now at 1.7428) will target 61.8% retracement at 1.6953.
In the bigger picture, up trend from 1.4281 (2022 low) is in progress for 100% projection of 1.4281 to 1.7062 from 1.5963 at 1.8744. Firm break there will pave the way to 138.2% projection at 1.9806, which is close to 1.9799 (2020 high). Outlook will remain bullish as long as 1.7062 resistance turned support (2023 high) holds even in case of deep pullback.
 will target 61.8% retracement at 1.6953.){kind=link}