Every day Pivots: (S1) 1.6295; (P) 1.6392; (R1) 1.6446; Extra…
EUR/AUD falls sharply after rejection by 55 4H EMA, however stays above 1.6267 low. Intraday bias stays impartial first and outlook stays bearish. On the draw back, break of 1.6267 will resume bigger decline from 1.7062 to 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106 subsequent. Nevertheless, break of 1.6515 resistance will flip bias again to the upside for stronger rebound.
Within the larger image, the break of medium time period pattern line help now suggests fall from 1.7062 correcting the entire up pattern from 1.4281 (2022 low). Deeper decline can be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Sturdy 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.
