Every day Pivots: (S1) 1.5144; (P) 1.5282; (R1) 1.5494; Extra…
Intraday bias in EUR/AUD stays on the upside for the second. Decisive break of 1.5396 key resistance carry bigger bullish implication. Subsequent goal is 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. For now, additional rally will stay in favor so long as 1.5047 assist holds.
Within the greater image, present improvement raises the possibility of medium time period bottoming at at 1.4281, on bullish convergence situation in every day MACD. Agency break of 1.5396 will convey stronger rally again to 1.6434 key resistance subsequent. Nonetheless, rejection by 1.5396 will preserve medium time period bearishness for one more fall by 1.4281 at a later stage.
