Daily Pivots: (S1) 1.4780; (P) 1.4913; (R1) 1.4986; More…
Intraday bias in EUR/AUD stays on the downside for 1.4759 support. Sustained break there should confirm rejection by 1.5354 support turned resistance, and argues that larger down trend is no finished. Further fall should then be seen to retest 1.4138 low next. On the upside, above 1.5059 minor resistance will turn bias back to the upside for retesting 1.5396 instead.
In the bigger picture, sustained break of 1.5354 support turned resistance will argue that a medium term bottom was formed at 1.4318 already. It would still be too early to call for long term trend reversal. But further rise would then be seen back towards 1.6434 resistance (2021 high). However, rejection by 1.5354 will retain bearishness for extending the down trend from 1.9799 (2020 high) through 1.4318 at a later stage.
