Day by day Pivots: (S1) 1.6215; (P) 1.6280; (R1) 1.6385; Extra..
EUR/AUD’s breach of 1.6313 resistance suggests brief time period bottoming at 1.6127, on bullish convergence situation in 4H MACD, simply forward of 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106. Intraday bias is mildly on the upside for 1.6478 resistance subsequent. For now, danger will keep on the upside so long as 1.6127 assist holds, in case of retreat.
Within the larger image, fall from 1.7062 medium time period prime is seen as correcting the entire up development from 1.4281 (2022 low). Deeper decline might nonetheless be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Sturdy assist may very well be seen there to carry rebound. Sustained break of 55 D EMA (now at 1.6426) will argue that the correction has accomplished.
