EUR/AUD Dips to 1.6108 Low, Neutral Intraday but Bearish Toward 1.5913

EUR/AUD hit a fresh low at 1.6108 on May 15 before recovering, shifting intraday bias to neutral while the overall bearish outlook persists, targeting the 61.8% retracement at 1.5913 below structural support 1.5963. The pair declined progressively from the April peak of 1.6842—breaking supports at 1.6561 (Apr 8), 1.6497 (Apr 15), and 1.6340 (Apr 28)—extending the downtrend from the 2025 high of 1.8554 amid ECB hesitancy and RBA strength. Downside risks mount below 1.6108, capped by resistance at 1.6293 and 55-week EMA near 1.7039.