EUR/AUD’s rebound from 1.5574 extends higher today and intraday bias mildly on the upside. However, overall outlook will remain bearish as long as 1.6264 resistance holds. Below 1.5844 will bring retest of 1.5774 support first. Firm break of 1.5774 will target 1.5359 projection level.
In the bigger picture, down trend from 1.8554 (2025 high) is in progress. Next target is 61.8% projection of 1.8160 to 1.6125 from 1.6617 at 1.5359. Firm break there will target 100% projection at 1.4582. For now, outlook will remain bearish as long as 55 W EMA (now at 1.6559) holds, in case of rebound.
