Every day Pivots: (S1) 1.6146; (P) 1.6225; (R1) 1.6283; Extra..
EUR/AUD’s decline is resuming by breaching 1.6137 and intraday bias is again on the draw back for 100% projection of 1.7062 to 1.6319 from 1.6844 at 1.6106. In the meantime, contemplating bullish convergence situation in 4H MACD, 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 as a substitute.
Within the greater image, fall from 1.7062 medium time period high is seen as correcting the entire up pattern from 1.4281 (2022 low). Deeper decline could be seen to 38.2% retracement of 1.4281 to 1.7062 at 1.6000. Robust assist 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.
