EUR/AUD’s pull again from 1.7062 prolonged decrease final week, however stayed above 1.6737 help. Preliminary bias stays impartial this week first and additional rally is in favor. On the upside, agency break of 1.7062 resistance will resume bigger up pattern to 1.7377 projection degree subsequent. Nonetheless, agency break of 1.6737 will deliver deeper pull again to 1.6601 resistance turned help as a substitute.
Within the greater 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 help holds, even in case of one other pull again.
In the long run image, it’s nonetheless early to determine 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 help holds. Subsequent goal is 61.8% retracement of 1.9799 to 1.4281 at 1.7691.
