EUR/AUD Downtrend Resumes with Break Below Key Support

The EUR/AUD currency pair has resumed its downward trend after breaking through the 1.6250 support level last week.

The initial bias remains on the downside, with the goal of retesting the 1.6108 low, which would likely lead to a resumption of the overall downtrend from the 1.8554 high in 2025.

A decisive break below this level could set the stage for further declines, potentially targeting the 61.8% projection of the 1.8160 to 1.6125 move from the 1.6617 low at 1.5359.

In the bigger picture, the decline from the 2025 high is seen as part of a larger pattern that began in 2008 and involves the 55-month exponential moving average (now at 1.6567). Sustained trading below this level would confirm the bearish case and pave the way for a return towards 1.4281.