Daily Pivots: (S1) 1.6567; (P) 1.6620; (R1) 1.6700; More…
Intraday bias in EUR/AUD remains on the upside for the moment. Rise from 1.5963 should target a retest on 1.7180 high next. On the downside, below 1.6579 minor support will turn intraday bias neutral and bring consolidations, before staging another rise.
In the bigger picture, EUR/AUD is holding on to 1.5996 key support despite brief breach. Larger up trend from 1.4281 (2022 low) is still in favor to resume through 1.7180 at a later stage. Nevertheless, sustained break of 1.5995 will indicate that such up trend has completed. Deeper decline would be seen to 61.8% retracement of 1.4281 to 1.7180 at 1.5388, even as a correction.
