EUR/AUD’s down trend is resuming by breaking 1.5951 support. Intraday bias is back on the downside for 100% projection of 1.6334 to 1.5951 from 1.6264 at 1.5881. Firm break there will target 161.8% projection at 1.5644. On the upside, above 1.6004 minor resistance will turn intraday bias neutral again first.
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 1.6264 resistance will indicate medium term bottoming, and bring stronger rebound back to 1.6842 resistance, even as a corrective bounce.
