Intraday bias in EUR/AUD remains mildly on the upside at this point. Prior breach breach of 1.6264 suggests medium term bottoming at 1.5774. Further rise should be seen to 1.6334 resistance. Break there will solidify this bullish case, and target 1.6842 cluster resistance next. For now, risk will be mildly on the upside as long as 1.5987 support holds in case of retreat.
In the bigger picture, a medium term bottom could be in place at 1.5774 on bullish divergence condition in D MACD. Sustained trading above 55 W EMA (now at 1.6547). Sustained break there will target 1.6842, with 38.2% retracement of 1.8554 (2025 high) to 1.5774 at 1.6836, even as a corrective bounce. Though, rejection by 55 W EMA will bring retest of 1.5774 low.
