EUR/AUD’s break of 1.6258 support confirms short term bottom at 1.6072. Intraday bias is back on the upside for 1.6444 resistance first. Firm break there will target 1.6617 key structural resistance next. On the downside, below 1.6163 support will bring retest of 1.6072 low instead.
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.
