Daily Pivots: (S1) 1.6944; (P) 1.7019; (R1) 1.7106; More…
There is no sign of topping in EUR/AUD yet and intraday bias stays on the upside. Sustained break of 100% projection of 1.5963 to 1.6800 from 1.6355 at 1.7192 will confirm larger up trend resumption, and target 161.8% projection at 1.7709 next. On the downside, below 1.6990 minor support will turn intraday bias neutral first.
In the bigger picture, up trend from 1.4281 (2022 low) is still in progress. Firm break of 1.7180 (2024 high) will confirm resumption. Next target is 61.8% retracement of 1.9799 (2020 high) to 1.4281 at 1.7897. For now, outlook will stay bullish as long as 1.6355 support holds, even in case of deep pullback.
