Daily Pivots: (S1) 1.6110; (P) 1.6150; (R1) 1.6187; More…
Intraday bias in EUR/AUD is turned neutral first with current recovery. On the upside, firm break of 1.6293 resistance will suggest that a short term bottom was already formed at 1.6108. Bias will be turned tot he upside for 55 D EMA (now at 1.6471). On the downside, below 1.6108 will extend larger fall from 1.8554 to 1.5913 fibonacci level.
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.
. On the downside, below 1.6108 will extend larger fall from 1.8554 to 1.5913 fibonacci level.){kind=link}