Daily Pivots: (S1) 1.7910; (P) 1.7984; (R1) 1.8092; More…
EUR/AUD’s rally continues today and intraday bias stays on the upside for 1.8155 resistance. Firm break there will argue that whole corrective pattern from 1.8554 has completed with three waves to 1.7569. Further rise should be seen to retest 1.8554 high next. On the downside, below 1.79743 will turn intraday bias neutral first.
In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern, which might have completed already. Firm break of 1.8554 will resume larger up trend from 1.4281 (2022 low), and target 61.8% projection of 1.5963 to 1.8554 from 1.7569 at 1.9170. This will remain the favored case as long as 1.7569 support holds.
