EUR/AUD recovered after dipping to 1.6647 final week, however upside was capped by 1.6887 resistance. Preliminary bias stays impartial this week first. On the draw back, break of 1.6647 will prolong the corrective fall from 1.7062 to 1.6259/6601 assist zone. On the upside, agency break of 1.6887 resistance ought to verify that correction from 1.7062 has accomplished at 1.6647. Additional rally must be seen by means of 1.7062 to 1.7377 projection degree.
Within the larger image, the rise from 1.4281 (2022 low) is in progress. Subsequent goal is 100% projection of 1.5254 to 1.6785 from 1.5846 at 1.7377. For now, outlook will keep bullish so long as 1.5846 assist holds, even in case of deep pull again.
In the long run image, it’s nonetheless early to resolve if rise from 1.4281 is resuming entire up pattern from 1.1602 (2012 low). However in both case, additional rally is in favor so long as 1.5846 assist holds. Subsequent goal is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.
