Daily Pivots: (S1) 1.6528; (P) 1.6572; (R1) 1.6640; More…
Intraday bias in EUR/AUD remains neutral for the moment. As noted before, rebound from 1.6125 could have completed at 1.6842, after rejection by 55 D EMA (now at 1.6720). Below 1.6497 will bring retest of 1.6125 low first. Nevertheless, firm break of 1.6708 will should resume the rebound from 1.6125 through 1.6842 to 38.2% retracement of 1.8554 to 1.6125 at 1.7053.
In the bigger picture, fall from 1.8554 (2025 high) is in progress and deeper decline should be seen to 61.8% retracement of 1.4281 to 1.8554 at 1.5913, which is slightly below 1.5963 structural support. Decisive break there will pave the way back to 1.4281 (2022 low). For now, risk will stay on the downside as long as 55 W EMA (now at 1.7163) holds, even in case of strong rebound.
. Below 1.6497 will bring retest of 1.6125 low first. Nevertheless, firm break of 1.6708 will should resume the rebound from 1.6125 through 1.6842 to 38.2% retracement of 1.8554 to 1.6125 at 1.7053.){kind=link}