Daily Pivots: (S1) 1.7812; (P) 1.7880; (R1) 1.7944; More…
Intraday bias in EUR/AUD remains mildly on the upside for 1.8094. Firm break there will resume the rise from 1.7245 to retest 1.8554 high. Nevertheless, break of 1.7717 support will revive the case that rise from 1.7245 has completed, and turn bias back to the downside for 1.7459 support instead.
In the bigger picture, price actions from 1.8554 medium term are seen as a corrective pattern. While deeper pullback might be seen, downside should be contained by 38.2% retracement of 1.4281 (2022 low) to 1.8554 at 1.6922 to bring rebound. Up trend from 1.4281 is expected to resume at a later stage.
