EUR/AUD Daily Outlook

Daily Pivots: (S1) 1.6664; (P) 1.6695; (R1) 1.6740; More

Immediate focus is now on 1.7887 resistance will today’s rebound. Firm break there should confirm that correction from 1.7062 has completed at 1.6647. Further rally should be seen through 1.7062 to 1.7377 projection level. On the downside, break of 1.6647 will extend the correction lower instead.

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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