Daily Pivots: (S1) 1.7787; (P) 1.7824; (R1) 1.7853; More…
Intraday bias in EUR/AUD stays mildly on the upside at this point. Pullback from 1.8155 could have completed at 1.7588, after defending 61.8% retracement of 1.7245 to 1.8155 at 1.7593. Further rise would be seen to retest 1.8155. On the downside, however, break of 1.7716 will bring deeper fall to retest 1.7588 instead.
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.
