Daily Pivots: (S1) 1.4574; (P) 1.4636; (R1) 1.4752; More…
Focus is now on 1.4712 resistance in EUR/AUD. Sustained break there will turn bias to the upside, for stronger rebound back to 1.5396 resistance. On the downside, firm break of 1.4318 low will resume larger down trend to medium term projection level at 1.3623.
In the bigger picture, down trend from 1.9799 is still in progress. Break of 1.4318 low will target 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623, which is close to 1.3624 long term support (2017 low). This will remain the favored case now as long as 1.5396 resistance holds.
