EUR/AUD Daily Forex Analysis
In the EUR/AUD pair, the upward trend that originated from 1.4284 has been rekindled, evident by the surge past the 1.6788 resistance. Our Daily Forex Analysis indicates a forthcoming rally, possibly approaching the 1.7380 mark. However, the bullish Daily Analysis perspective for the short term is contingent on the 1.6638 support remaining intact, should a pullback occur.
Zooming out, the larger frame reveals that the ascent from 1.4284, which marked the low in 2022, continues to unfold. The significant target on the horizon is the 100% projection from 1.5257 to 1.6788, set at 1.7380. This bullish narrative remains robust as long as the 1.5849 support endures, even if a temporary retracement ensues.
EUR/AUD Daily Analysis Summary
In summary, the EUR/AUD Intraday Analysis showcases a strong bullish inclination with a projection towards 1.7380, while still maintaining caution for potential pullbacks, supported by 1.6638.
Key Points:
- EUR/AUD’s upward trend from 1.4284 rekindled with a surge past 1.6788.
- The potential rally target is set at 1.7380, based on historical projections.
- A bullish outlook remains solid with 1.5849 as a pivotal support.
