Daily Pivots: (S1) 1.6381; (P) 1.6423; (R1) 1.6452; More…
Further decline is expected in EUR/AUD as long as 1.6667 resistance holds. Deeper fall should be seen to retest 1.6125 low. Firm break there will resume whole down trend from 1.8554 to 1.5913 fibonacci level next. However, break of 1.6667 will turn bias back to the upside for 1.6842 resistance instead.
In the bigger picture, fall from 1.8554 (2025 high) is in progress and deeper decline should be seen to 61.8% retracement of 1.4281 to 1.8554 at 1.5913, which is slightly below 1.5963 structural support. Decisive break there will pave the way back to 1.4281 (2022 low). For now, risk will stay on the downside as long as 55 W EMA (now at 1.7131) holds, even in case of strong rebound.
