Daily Pivots: (S1) 1.7812; (P) 1.7850; (R1) 1.7916; More…
EUR/AUD’s rally from 1.7588 continues today and intraday bias stays on the upside. Further rally should be seen to retest 1.8155 resistance next. Firm break there will resume the whole rise from 1.7245. On the downside, below 1.7781 minor support will turn intraday bias neutral first.
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.
