Each day Pivots: (S1) 1.6264; (P) 1.6293; (R1) 1.6339; Extra…
Vary buying and selling continues in EUR/AUD and intraday bias stays impartial at this level. On the upside, decisive break of 1.6434 resistance will carry bigger bullish implications. Nonetheless, contemplating bearish divergence situation in 4H MACD, agency break of 1.6216 ought to verify quick time period topping, after rejection by 1.6389/6434 cluster resistance zone. Intraday bias might be again on the draw back on this case, to 1.6033 assist and probably under.
Within the larger image, focus stays on 1.6389/6434 cluster resistance (38.2% retracement of 1.9799 to 1.4281 at 1.6389). Sustained break there ought to verify that entire down development from 1.9799 (2020 excessive) has accomplished. Additional rally ought to then be seen to 61.8% retracement at 1.7691. Nonetheless, rejection by this cluster resistance will make medium time period outlook impartial at finest.
