Each day Pivots: (S1) 1.6165; (P) 1.6221; (R1) 1.6281; Extra..
One other fall might nonetheless be seen in EUR/AUD with 1.6313 minor resistance holds. However contemplating bullish convergence situation in 4H MACD, stronger help could possibly be seen from 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 to convey rebound. On the upside, agency break of 1.6313 resistance ought to point out quick time period bottoming, and switch bias again to the upside for 1.6478 resistance.
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 can be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Robust help could possibly be seen there to convey rebound on first try. However danger will keep on the draw back so long as 1.6844 resistance holds. Sustained break of 1.6000 would convey additional fall to 61.8% retracement at 1.5343.
