Intraday bias in EUR/AUD remains neutral at this point. On the upside, above 1.6264 will target 1.6334 resistance. Considering bullish divergence condition in D MACD, firm break of 1.6334 will indicate medium term bottoming. However, break of 1.5951 will extend the larger down trend instead.
In the bigger picture, down trend from 1.8554 (2025 high) is in progress. Firm break of 1.5963 (2024 low). Should confirm that it’s already reversing whole up trend from 1.4281 (2022 low) and pave the way to this support. However, decisive break of 1.6334 resistance will indicate medium term bottoming, and bring stronger rebound back to 1.6842 resistance, even as a corrective bounce.
