Daily Pivots: (S1) 1.6750; (P) 1.6816; (R1) 1.6913; More…
EUR/AUD’s rally from 1.5963 continues today and intraday bias stays on the upside. Sustained trading above 61.8% projection of 1.5963 to 1.6800 from 1.6355 at 1.6872 could prompt upside acceleration to 100% projection at 1.7192, which is close to 1.7180 high. On the downside, below 1.6771 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.
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.
