EURAUD’s immediate price action is impulsive, oversold conditions are likely to lead to an oversold bounce.
The Daily S/R is a key area in confluence with the 200 MA and the .618 Fibonacci, a respect upon first attempt here is highly probable.
The .382 Fibonacci is likely to be back tested as this level coincides with the Local S/R and 21 MA.
Both oscillators are getting overextended, this is indicative of an oversold bounce being probable. A volume influx is likely to coincide as the current volume profile is declining.
Overall, in my opinion, EURAUD is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps
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