EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.4868; (P) 1.4916; (R1) 1.4952; More

With 1.4663 support intact, rise from 1.4281 should still be in progress. Further rise would be seen to 1.5396 resistance. On the downside, however, break of 1.4663 minor support will turn bias back to the downside for retesting 1.4281 low.

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.

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