Intraday bias in EUR/AUD remains on the upside for the moment. Rise from 1.6108 is in progress and should target 161.8% projection of 1.6108 to 1.6381 from 1.6186 at 1.6628 next. On the downside, below 1.6480 minor support will turn bias neutral and bring consolidations first.
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.
