Daily Pivots: (S1) 1.6944; (P) 1.7019; (R1) 1.7106; More…
A temporary top is formed at 1.7268 in EUR/AUD with current retreat and intraday bias is turned neutral for consolidations. downside should be contained by 55 4H EMA (now at 1.6902) to bring another rally. On the upside, sustained trading above 100% projection of 1.5963 to 1.6800 from 1.6355 at 1.7192 will target 161.8% projection at 1.7709 next.
In the bigger picture, the breach of 1.7180 key resistance (2024 high) suggests that up trend from 1.4281 (2022 low) is resuming. Sustained trading above 1.7180 will confirm and target 61.8% projection of 1.4281 to 1.7062 from 1.5963 at 1.7682, which is also close to 61.8% retracement of 1.9799 (2020 high) to 1.4281 at 1.7691. For now, this will remain the favored case as long as 1.6355 support holds, even in case of deep pullback.
 to bring another rally. On the upside, sustained trading above 100% projection of 1.5963 to 1.6800 from 1.6355 at 1.7192 will target 161.8% projection at 1.7709 next.){kind=link}