EUR/AUD’s break of 1.6293 resistance confirms short term bottoming at 1.6108. Rise from there is seen as the third leg of the corrective pattern from 1.6125. Intraday bias is back on the upside for 55 D EMA (now at 1.6458). On the downside, break of 1.6108 will resume larger fall from 1.8554 to 1.5913 fibonacci level.
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 1.7012) holds, even in case of strong rebound.
. On the downside, break of 1.6108 will resume larger fall from 1.8554 to 1.5913 fibonacci level.){kind=link}