Daily Pivots: (S1) 1.6611; (P) 1.6690; (R1) 1.6836; More…
EUR/AUD surges to as high as 1.7189 so far today, and the breach of 1.7062 resistance suggests larger rally resumption. Intraday bias remains on the upside for 1.7715 fibonacci projection level next. On the downside, below 1.6770 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, decisive break of 1.7062 resistance will confirm resumption of whole up trend from 1. 1.4281 (2022 low). Next target is 61.8% projection of 1.4281 to 1.7062 from 1.5996 at 1.7715. For now, further rally is expected as long as 55 D EMA (now at 1.6344) support holds, even in case of deep retreat.
