Intraday bias in EUR/AUD is turned neutral first with current recovery. Considering bullish convergence condition in 4H MACD, firm break of 1.6159 minor resistance will indicate short term bottoming. Intraday bias will turn bias to the upside for 55 D EMA (now at 1.6290). On the downside, decisive break of 1.6108 low will resume the whole down trend from 1.8554 high. Next target is 1.5359 projection level.
In the bigger picture, fall from 1.8554 (2025 high) is in progress. On resumption, next target is 61.8% projection of 1.8160 to 1.6125 from 1.6617 at 1.5359. Outlook will remain bearish as long as 1.6617 resistance holds, in case of rebound.
. On the downside, decisive break of 1.6108 low will resume the whole down trend from 1.8554 high. Next target is 1.5359 projection level.){kind=link}