Daily Pivots: (S1) 1.6386; (P) 1.6415; (R1) 1.6463; More…
With 1.6288 minor support intact, further rise is in favor in EUR/AUD. Break of 1.6448 resistance will target 1.6593 next. On the downside, break of 1.6288 minor support will turn bias back to the downside for 1.6085 support.
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 1.6122) 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 1.6786 will target 61.8% retracement of 2.1127 (2008 high) to 1.1602 at 1.7488.
