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The EUR/AUD pair is currently trading with a neutral bias amid key technical levels. Daily pivot points are set at 1.6374 (S1), 1.6487 (P), and 1.6556 (R1). A breakdown below the 138.2% Fibonacci projection of the 1.8554 to 1.7245 decline at 1.6351 could extend the downward trend toward 1.6042. However, bullish momentum in the 4-hour MACD suggests potential for a short-term rebound. For traders, the neutral bias means both long and short positions carry risks. Breakouts below 1.6351 may attract short sellers targeting the 1.6042 level, while the MACD convergence offers a buying opportunity for those expecting a bounce. Volatility around these levels could create trading opportunities but requires tight risk management. MENA investors should monitor the 1.6487 pivot as a critical support/resistance zone. A sustained move above this level could shift the bias to bullish, while a close below 1.6374 may signal renewed bearish pressure. Key watchpoints include the 4-hour MACD histogram and volume changes to confirm trend strength.
