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EUR/AUD Every day Outlook

eur/aud-every-day-outlook

Every day Pivots: (S1) 1.5494; (P) 1.5553; (R1) 1.5614; Extra…

Intraday bias in EUR/AUD stays impartial first. Additional fall is anticipated so long as 1.5743 resistance holds. On the draw back, break of 1.5354 will resume entire fall from 1.6434 to retest 1.5250 low. However, break of 1.5743 will flip close to time period outlook bullish for 1.5907 resistance as an alternative.

Within the larger image, the down pattern from 1.9799 (2020 excessive) is in progress. Agency break of 1.5250 low will affirm resumption and goal 61.8% retracement of 1.1602 (2012 low) to 1.9799 at 1.4733. Sustained break there might deliver extra draw back acceleration to 61.8% projection of 1.9799 to 1.5250 from 1.6434 at 1.3623. In any case, break of 1.6434 resistance is required to sign medium time period bottoming, or outlook will keep bearish.

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