EUR/AUD’s decline continues today and intraday bias remains on the downside. Next target is 161.8% projection of 1.6334 to 1.5951 from 1.6264 at 1.5644. On the upside, above 1.5951 support turned 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.
