Daily Pivots: (S1) 1.7710; (P) 1.7752; (R1) 1.7818; More…
EUR/AUD’s break of 55 D EMA (now at 1.7725) argues that fall from 1.1860 might have completed at 1.7477 already. Further rise is now mildly in favor for 1.7976 resistance. Break there will target 1.8160. On the downside, though, below 1.7630 will target 1.7477 support .Overall, price actions from 1.8554 are seen as a corrective pattern that would still extend.
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.
 argues that fall from 1.1860 might have completed at 1.7477 already. Further rise is now mildly in favor for 1.7976 resistance. Break there will target 1.8160. On the downside, though, below 1.7630 will target 1.7477 support .Overall, price actions from 1.8554 are seen as a corrective pattern that would still extend.){kind=link}