Immediate focus is back on 1.6306 support as EUR/AUD’s fall from 1.6617 resumes today. Decisive break there will argue that the rebound from 1.6108 has already completed. Intraday bias will be back to the downside for retest this low. On the upside, above 1.6419 will turn bias to the upside for retesting 1.6617 instead.
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.
