Daily Pivots: (S1) 1.6169; (P) 1.6231; (R1) 1.6262; More…
Intraday bias in EUR/AUD remains neutral for the moment, and further fall is expected with 1.6371 resistance intact. On the downside, decisive break of 1.6125 will resume larger fall from 1.8554. Nevertheless, break of 1.6371 resistance will indicate short term bottoming, and turn bias back to the upside for stronger rebound to 55 D EMA (now at 1.6494).
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 1.7039) holds, even in case of strong rebound.
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