Daily Pivots: (S1) 1.7775; (P) 1.7801; (R1) 1.7854; More…
EUR/AUD’s rebound from 1.7588 extended higher today and the breach of 55 D EMA (now at 1.7809) suggests that pullback from 1.8155 has completed, after defending 61.8% retracement of 1.7245 to 1.8155 at 1.7593. Intraday bias on the upside for retesting 1.8155 resistance. On the downside, though, below 1.7716 minor support will turn bias back to the downside for 1.7588 again.
In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern. Deeper fall could be seen as the pattern extends, but downside should be contained by 38.2% retracement of 1.4281 (2022 low) to 1.8554 at 1.6922 to bring rebound. Uptrend from 1.4281 is expected to resume at a later stage.
 suggests that pullback from 1.8155 has completed, after defending 61.8% retracement of 1.7245 to 1.8155 at 1.7593. Intraday bias on the upside for retesting 1.8155 resistance. On the downside, though, below 1.7716 minor support will turn bias back to the downside for 1.7588 again.){kind=link}