No change in EUR/AUD’s outlook as it’s still bounded in range trading. Intraday bias stays neutral first. Rise from 1.6108 is seen as the third leg of the corrective pattern from 1.6125. Above 1.6381 will bring stronger rebound back towards 1.6842 resistance. Nevertheless, firm break of 1.6108 will resume the larger down trend from 1.8554.
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 1.6956) holds, even in case of strong rebound.
