Daily Pivots: (S1) 1.7857; (P) 1.7912; (R1) 1.7947; More…
EUR/AUD is staying in tight range below 1.7989. Intraday bias stays neutral and more consolidations could be seen. Further rally is expected as long as 1.7626 support holds. Above 1.7989 will target 61.8% retracement of 1.8554 to 1.7245 at 1.8054. Sustained break there will pave the way to 1.8554.
In the bigger picture, price actions from 1.8554 medium term are seen as a corrective pattern. While deeper pullback might be seen, downside should be contained by 38.2% retracement of 1.4281 (2022 low) to 1.8554 at 1.6922 to bring rebound. Up trend from 1.4281 is expected to resume at a later stage.
