EUR/AUD Daily Outlook – Action Forex
Every day Pivots: (S1) 1.7729; (P) 1.7809; (R1) 1.7915; More…
Intraday bias in EUR/AUD stays impartial and outlook is unchanged. Corrective sample from 1.8554 might prolong, however draw back must be contained by 38.2% retracement of 1.5963 to 1.8854 at 1.7750. On the upside, above 1.8014 minor resistance will deliver retest of 1.8554 first. Agency break there’ll resume bigger up pattern. Nevertheless, agency break of 1.7750 will deliver deeper fall to 55 D EMA (now at 1.7399) and presumably under.
Within the greater image, up pattern from 1.4281 (2022 low) is in progress for 100% projection of 1.4281 to 1.7062 from 1.5963 at 1.8744. Agency break there’ll pave the way in which to 138.2% projection at 1.9806, which is near 1.9799 (2020 excessive). Outlook will stay bullish so long as 1.7062 resistance turned assist (2023 excessive) holds even in case of deep pullback.
