EUR/AUD Price Analysis: downside running out of steam, 50% mean reversion is a meanwhile target

• EUR/AUD is overstretched to the downside and due a bullish correction.
• Bulls have a 50% man reversion in their sights ahead of the 61.8% Fibonacci retracement target. 
• Bears seek a brak of a long term support structure. 

Long Term Support Structure

The bears are held up ahead of a long term support structure although buy stop liquidity may be targetted before another impulse to the downside will be in play. 

Bulls Target 1.6280 50% Fibo'

A daily doji confirms an upside bias and the overextension as the sellers dry up.  

Bulls Target 1.6280 61.8% Fibo'

The buy stop liquidity is located in the make of break zone and ahead of the 61.8% Fibonacci retracement area.