Daily Pivots: (S1) 1.7769; (P) 1.7834; (R1) 1.7896; More…
EUR/AUD’s break of 1.7872 resistance argues that pullback from 1.8094 has completed already. Strong support from 55 D EMA (now at 1.7706) suggests that rise from 1.7245 is still in progress. Intraday bias is back on the upside for 1.8094 first. Firm break there will target 1.8554 high next.
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.
 suggests that rise from 1.7245 is still in progress. Intraday bias is back on the upside for 1.8094 first. Firm break there will target 1.8554 high next.){kind=link}