Intraday bias in EUR/AUD is turned neutral first with current retreat. Current development suggests Further rise is in favor as long as 1.5987 support holds. Above 1.6286 will target 1.6334 resistance. Break there will solidify this bullish case, and target 1.6842 cluster resistance next.
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.
