Daily Pivots: (S1) 1.7838; (P) 1.7907; (R1) 1.7945; More…
Intraday bias in EUR/AUD stays neutral at this point, and further rally is in favor as long as 1.7818 support holds. On the upside, above 1.7965 minor resistance will bring retest of 1.8160 first. Sustained break of 0.8155 resistance will affirm the case that larger up trend is resuming. Further rise should be seen to retest 1.8554 high next. However, break of 1.7818 will dampen this bullish view and turn focus back to 1.7569 support instead.
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. Nevertheless, break of 1.7569 support will delay the bullish case and extend the correction from 1.8554.
