Daily Pivots: (S1) 1.6365; (P) 1.6392; (R1) 1.6414; More…
Intraday bias in EUR/AUD remains neutral for consolidations and further decline is expected as long as 1.6497 support turned resistance holds. Below 1.6340 will resume the fall from 1.6842 and target a retest on 1.6125 low. Nevertheless, firm break of 1.6497 will turn bias back to the upside for stronger rebound.
In the bigger picture, fall from 1.8554 (2025 high) is in progress and deeper decline should be seen to 61.8% retracement of 1.4281 to 1.8554 at 1.5913, which is slightly below 1.5963 structural support. Decisive break there will pave the way back to 1.4281 (2022 low). For now, risk will stay on the downside as long as 55 W EMA (now at 1.7129) holds, even in case of strong rebound.
