EUR/AUD Daily Outlook

Intraday bias in EUR/AUD is turned neutral first with current retreat. Current development suggests Further rise is in favor as long as 1.5987 support holds. Above 1.6286 will target 1.6334 resistance. Break there will solidify this bullish case, and target 1.6842 cluster resistance next.

In the bigger picture, a medium term bottom could be in place at 1.5774 on bullish divergence condition in D MACD. Sustained trading above 55 W EMA (now at 1.6547). Sustained break there will target 1.6842, with 38.2% retracement of 1.8554 (2025 high) to 1.5774 at 1.6836, even as a corrective bounce. Though, rejection by 55 W EMA will bring retest of 1.5774 low.

Get daily and weekly ActionForex analysis and key releases on our Telegram channel.

ActionForex
ActionForex
ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for two decades. We started providing only a daily and a mid-day report, now known as Action Insights. Gradually, we added a lot more in-house contents to the site. Technical Outlook section was expanded to cover more pairs. In addition to that, Top Movers, Heat Map, Pivot Point Charts and Pivot Meters, Action Bias and Volatility Charts, are tools used by traders from all over the world.

Latest Analysis

Learn Forex Trading