Every day Pivots: (S1) 1.6348; (P) 1.6389; (R1) 1.6431; Extra…
EUR/AUD remains to be bounded in consolidation from 1.6267 and intraday bias stays impartial. Outlook will keep bearish so long as 1.6515 resistance holds. On the draw back, break of 1.6267 will resume the entire 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 greater image, fall from 1.7062 medium time period prime is seen as 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. Robust help may very well be seen there to carry rebound on first try. However threat will keep on the draw back so long as 1.6844 resistance holds. Sustained break of 1.6000 would carry additional fall to 61.8% retracement at 1.5343.
