Intraday bias in EUR/AUD remains on the downside for the moment. current fall from 1.6617 is in progress for retesting 1.6108 low. Decisive break there will resume the whole down trend from 1.8554 high too. For now, risk will stay on the downside as long as 1.6331 resistance holds, in case of recovery.
In the bigger picture, outlook will stay bearish as long as 1.6617 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 1.6617 should confirm medium term bottoming, and bring stronger rally.
