Intraday bias in EUR/AUD remains neutral for now. But immediate focus is now on 1.6419 resistance with today’s strong rebound. Firm break there will suggest that pullback from 1.6617 has completed at 1.6250, and rise from 1.6108 is not complete. Intraday bias will be turned back to the upside for 1.6617 resistance. on the downside, below 1.6250 will bring retest of 1.6108 low.
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.
