Daily Pivots: (S1) 1.6695; (P) 1.6733; (R1) 1.6774; More…
Intraday bias in EUR/AUD remains neutral and some more consolidations would be seen below 1.6800. Outlook will stay bullish as long as 1.6573 resistance turned support holds. Above 1.6800 will resume the rally from 1.5963 to retest 1.7180 high next. However, considering bearish divergence condition in 4H MACD, firm break of 1.6573 will confirm short term topping, and turn bias back to the downside instead.
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 and deeper decline would be seen.
