Daily Pivots: (S1) 1.6660; (P) 1.6717; (R1) 1.6768; More…
EUR/AUD’s break of 1.6800 resistance indicates resumption of whole rise from 1.5963. Intraday bias stays on the upside for 61.8% projection of 1.5963 to 1.6800 from 1.6355 at 1.6872. Firm break there could prompt upside acceleration to 100% projection at 1.7192, which is close to 1.7180 high. On the downside, below 1.6702 minor support will delay the bullish case and turn intraday bias neutral again 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.
