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EUR/AUD Mid-Day Outlook


Each day Pivots: (S1) 1.5415; (P) 1.5477; (R1) 1.5526; Extra…

EUR/AUD’s rally resumed after temporary retreat and intraday bias is again on the upside. Present rally ought to goal 161.8% projection of 1.4281 to 1.4965 from 1.4716 at 1.5823. On the draw back, under 1.5426 minor assist will flip intraday bias impartial and produce consolidations, earlier than staging one other rally.

Within the greater image, a medium time period backside needs to be in place at 1.4281, on bullish convergence situation in each day MACD. Additional rise can be seen again to 1.6434 key resistance subsequent. Break of 1.4965 resistance turned assist is required to point reversal. In any other case, additional rally will stay in favor.

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