Day by day Pivots: (S1) 1.6698; (P) 1.6728; (R1) 1.6787; Extra…
Intraday bias in EUR/AUD stays impartial, with blended close to time period outlook. On the upside, break of 1.6449 will verify robust rebound from medium time period development line once more, and convey additional rally to retest 1.7062 excessive. On the draw back, nonetheless, break of 1.6449 will convey deeper fall to 1.6319 help as an alternative.
Within the greater image, present growth means that 1.7062 is already a medium time period prime. Fall from there’s seen as a correction to the up development from 1.4281 (2022 low). Whereas deeper decline could be seen, robust help ought to emerge from 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to comprise draw back. Then again, break of 1.6843 resistance will revive medium time period bullishness that bigger up development continues to be in progress.
