Daily Pivots: (S1) 1.7584; (P) 1.7636; (R1) 1.7701; More…
Intraday bias in EUR/AUD remains neutral for the moment. On the downside, below 1.7477 will extend the decline from 1.8160 to 100% projection of 1.8160 to 1.7561 from 1.7976 at 1.7377. Firm break there will pave the way to 138.2% projection at 17148. However, sustained break of 55 D EMA (now at 1.7728) will bring stronger rebound back to 1.7976 resistance.
In the bigger picture, as long as 55 W EMA (now at 1.7465) holds, price actions from 1.8554 could still be a correction to rise from 1.5963 only. However, sustained break of the EMA will argue that it’s already correcting the whole up trend from 1.4281 (2022 low). In this case, deeper decline would be seen to 38.2% retracement of 1.4281 to 1.8554 at 1.6922.
 will bring stronger rebound back to 1.7976 resistance.){kind=link}