EUR/AUD Intraday Analysis
Today’s Daily Forex Analysis for the EUR/AUD indicates a promising upward trajectory, even amidst the pair’s recent retracement. As the Intraday Analysis shows, while the 1.6712 support remains unbreached, the ongoing rally—originating from 1.4285 (a noteworthy low in 2022)—continues to exude potential. A future target to watch would be the 1.7381 projection mark. Conversely, should the currency duo fall below the 1.6712 minor support, we may anticipate a more pronounced pullback.
Zooming out for a broader Daily Analysis, the surge sparked off at 1.4285 is still very much alive. An upcoming aim would be the 100% projection stemming from the movement between 1.5258 and 1.6789, pointing directly to 1.7381. The bullish perspective will retain its sheen as long as the 1.5850 foundational support isn’t compromised—even if minor setbacks occur.
Analysis Summary
The Daily Forex Analysis of EUR/AUD is leaning towards a bullish momentum. While the 1.6712 support holds firm, eyes are set on the 1.7381 target. However, a broader lens indicates foundational support at 1.5850, which is crucial for the pair’s overall positive outlook.
Key Bullet Points
- The current EUR/AUD rally, with its roots at 1.4285, targets the 1.7381 projection.
- A dip below 1.6712 could usher in a deeper pullback.
- The wider bullish stance relies on the robust 1.5850 support.
