EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6653; (P) 1.6730; (R1) 1.6782; More

EUR/AUD’s fall from 1.7062 is in progress and intraday bias remains on the downside. Deeper fall would be seen to 55 D EMA (now at 1.6621). Strong support could be seen from there to bring rebound. On the upside, break of 1.6887 resistance will suggest that the pull back has completed and bring retest of 1.7062 high.

In the bigger picture, the rise from 1.4281 (2022 low) is in progress. Next target is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will stay bullish as long as 1.5846 support holds, even in case of deep pull back.

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