Daily Pivots: (S1) 1.6327; (P) 1.6377; (R1) 1.6456; More…
Intraday bias in EUR/AUD is turned neutral first with current recovery. On the downside, below 1.6286 will target 1.6126 low. Decisive break there will resume larger down trend from 1.8554. However, firm break of 1.6418 will indicate short term bottoming, and turn bias back to the upside for stronger rebound back towards 1.6842.
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 1.7129) holds, even in case of strong rebound.
