Daily Pivots: (S1) 1.7605; (P) 1.7634; (R1) 1.7677; More…
Intraday bias in EUR/AUD stays neutral and and more consolidations could be seen above 1.7588. Another recovery cannot be ruled out, but further decline expected as long as 55 D EMA (now at 1.7813) holds. Corrective pattern from 1.8554 is in the third leg. Sustained trading below 61.8% retracement of 1.7245 to 1.8155 at 1.7593 will target 1.7245 support and possibly below.
In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Deeper fall could be seen as the pattern extends, but downside should be contained by 38.2% retracement of 1.4281 (2022 low) to 1.8554 at 1.6922 to bring rebound. Uptrend from 1.4281 is expected to resume at a later stage.
 holds. Corrective pattern from 1.8554 is in the third leg. Sustained trading below 61.8% retracement of 1.7245 to 1.8155 at 1.7593 will target 1.7245 support and possibly below.){kind=link}