Price managed to make 3 candles and broke the low of the previous bar. If today's close is , it would be good news for shorts. But if it forms a (reversing losses on ECB conf.) then we wait for more validation.
Enter on a retest of the (probably next week...?) or if price breaks the neckline then on a retest of the neckline. But I expect some bounce once price hits the neckline/support zone. 1.53628 will be a level to watch out for. Fib levels to act as partial profit booking.
Today ECB review and on Friday we have RBA Gov . speech and NFP later, so tread with caution.
Note: EURAUD shorts will work only on a weaker Euro , assuming RBA could talk down the Aussie again.
Weekly charts, show a candle being formed at the time of writing, if this continues, it adds weight to the short bias. I suppose EOD today will give further clues.