Sat, Oct 23, 2021 @ 01:14 GMT

EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6195; (P) 1.6263; (R1) 1.6376; More

Intraday bias in EUR/AUD remains on the upside for 1.6448 resistance/. Break there will bring retest 1.6593 high. On the downside, below 1.6288 minor support will turn bias to the downside for 1.6085 support instead.

In the bigger picture, EUR/AUD is still struggling in established range of 1.5905/6786. And it’s trying to draw support from 55 week EMA (now at 1.6113) again. For now, larger up trend from 1.1602 (2012 low) is still in favor to continue as long as 1.5962 support holds. Break of 1.6503 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488.

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