Daily Pivots: (S1) 1.7729; (P) 1.7774; (R1) 1.7808; More…
Intraday bias in EUR/AUD stays on the downside as fall from 1.8160 is in progress for 1.7569 support. Break there will indicate that corrective pattern from 1.8554 already in its third leg, and target 1.7245. On the upside, above 1.7895 minor resistance will turn intraday bias neutral.
In the bigger picture, price actions from 1.8554 medium term top are seen as a corrective pattern, which might still be in progress. But outlook will stay bullish as long as 55 W EMA (now at 1.7391) holds, and up trend from 1.4281 (2022 low) is expected to resume through 1.8554 at a later stage.
