Daily Pivots: (S1) 1.7367; (P) 1.7431; (R1) 1.7521; More…
Intraday bias in EUR/AUD remains neutral at this point. Further fall is in favor as long as 1.7628 resistance holds. Below 1.7245 will target 61.8% retracement of 1.5963 to 1.8554 at 1.6953. On the upside, however, firm break of 1.7628 resistance will argue that fall from 1.8854 might be completed, and turn bias back to the upside for stronger rebound.
In the bigger picture, as long as 1.7062 resistance turned support (2023 high) holds, up trend from up trend from 1.4281 (2022 low) should still be in progress. However, sustained break of 1.7062 will confirm medium term topping and bring deeper fall back to 1.5963 support.
