EUR/AUD’s rise from 1.6108 resumed by breaking 1.6516 resistance. Intraday bias stays on the upside for 1.6842 resistance. For now, risk will stay mildly on the upside as long as 1.6306 support holds, in case of retreat.
In the bigger picture, outlook will stay bearish as long as 1.6842 resistance holds. Fall from 1.8554 (2025 high) is expected to continue to 61.8% retracement of 1.4281 to 1.8554 at 1.5913. Decisive break there will pave the way back to 1.4281 (2022 low). However, firm break of 1.6842 should confirm medium term bottoming, and bring stronger rally.
