Daily Pivots: (S1) 1.7703; (P) 1.7907; (R1) 1.8174; More…
EUR/AUD’s up trend is still in progress and intraday bias stays on the upside. Current rise should target next medium term fibonacci projection level at 1.8619. On the downside, break of 1.7286 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.
In the bigger picture, up trend from 1.1602 (2012 low) is in progress for 100% projection of 1.1602 to 1.6597 from 1.3524 at 1.8619. On the downside, break of 1.6085 support is needed to indicate medium term topping. Otherwise, outlook will stay bullish even in case of deep pull back.
