EUR/AUD rebounded strongly after drawing support from 55 4H EMA (now at 1.6371), but stays below 1.6492 resistance. Intraday bias remains neutral first. Near term corrective pattern from 1.6108 (or 1.6125) is still extending. On the upside, above 1.6492 will target 1.6617 resistance first. On the downside, break of 1.6250 will bring deeper fall back to retest 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.
, but stays below 1.6492 resistance. Intraday bias remains neutral first. Near term corrective pattern from 1.6108 (or 1.6125) is still extending. On the upside, above 1.6492 will target 1.6617 resistance first. On the downside, break of 1.6250 will bring deeper fall back to retest 1.6108 low.){kind=link}