Daily Pivots: (S1) 1.6381; (P) 1.6443; (R1) 1.6480; More…
EUR/AUD’s fall from 1.6789 is in progress and intraday bias stays on the downside. A double top reversal pattern (1.6800, 1.6789) could be formed. Deeper fall should be seen to 61.8% retracement of 1.5963 to 1.6800 at 1.6283. On the upside, however, break of 1.6497 minor resistance will dampen this bearish case and turn bias neutral first.
In the bigger picture, with 1.5996 key support (2024 low) intact, 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 1.5996 will indicate that such up trend has completed and deeper decline would be seen.
 could be formed. Deeper fall should be seen to 61.8% retracement of 1.5963 to 1.6800 at 1.6283. On the upside, however, break of 1.6497 minor resistance will dampen this bearish case and turn bias neutral first.){kind=link}