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Daily Pivots: (S1) 1.6093; (P) 1.6172; (R1) 1.6212; More…

EUR/AUD’s down trend resumed by breaking through 1.6148 temporary low and intraday bias is back on the downside. Next target is 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950. On the upside, above 1.6148 minor resistance will turn intraday bias neutral and bring consolidations again, before staging another decline.

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In the bigger picture, fall from 1.7062 medium term top is seen as a correction to the up trend from 1.4281 (2022 low). In case of deeper fall, strong support is expected around 1.5846 and 38.2% retracement of 1.4281 to 1.7062 at 1.6000 to bring rebound. Break of 1.7062 is in favor as a later stage.

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