EUR/AUD’s decline continues today after brief recovery. Intraday bias remains on the downside. Larger down trend from 1.8554 should be resuming. Next target is 61.8% projection of 1.6617 to 1.6072 from 1.6334 at 1.597. On the upside, above 1.6143 minor resistance will turn bias neutral and bring consolidations. But risk will remain on the downside as long as 1.6334 resistance holds, in case of recovery.
In the bigger picture, as long as 1.6617 resistance holds, down trend from 1.8554 (2025 high) should still be in progress. Break of 1.6072 is expected at a later stage for resumption. However, considering bullish divergence condition in D MACD, firm break of 1.6617 will confirm medium term bottoming.
