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The EUR/AUD pair resumed its downward trend last week, but bearish momentum remains weak with a bullish convergence in the 4-hour MACD indicator. Technical analysis suggests further declines toward the 138.2% Fibonacci projection at 1.6351 this week. A decisive break above the 1.6830 resistance level could reverse the near-term trend, but no clear bottoming signals have emerged yet. Traders are monitoring key technical levels for potential trend confirmation amid mixed momentum indicators.
