EURAUD Outlook
EUR/AUD Daily Outlook
EUR/AUD's break of 1.6453 suggests that pullback from 1.6516 has completed at 1.6306. More importantly, rise from 1.6108 is still in progress. Intraday bias is back on the upside, firm break of 1.6516 will target 1.6842 resistance. For now, risk will stay mildly on the upside as long as 1.6306 support holds.
In the bigger picture, outlook will stay bearish as long as 1.6842 resistance holds. Fall from 1.8554 (2025 high) is expected to continue to 61.8% retracement of 1.4281 to 1.8554 at 1.5913. Decisive break there will pave the way back to 1.4281 (2022 low). However, firm break of 1.6842 should confirm medium term bottoming, and bring stronger rally.
EUR/AUD Daily Outlook
Intraday bias in EUR/AUD stays neutral first. On the upside, break of 1.6306 will argue that rise from 1.6108 is still in progress. Retest of 1.6516 will be seen first, and break will confirm this case. On the downside, below 1.6306 will turn bias back to the downside for 1.6186 support.
In the bigger picture, outlook will stay bearish as long as 1.6842 resistance holds. Fall from 1.8554 (2025 high) is expected to continue to 61.8% retracement of 1.4281 to 1.8554 at 1.5913. Decisive break there will pave the way back to 1.4281 (2022 low). However, firm break of 1.6842 should confirm medium term bottoming, and bring stronger rally.
EUR/AUD Daily Outlook
Intraday bias in EUR/AUD is turned neutral first with current recovery. But risk will stay on the downside as long as 1.6453 resistance holds. Rebound from 1.6108 could have completed as a three wave corrective move to 1.6516. Below 1.6306 will target 1.6186 support first. Break will target retest of 1.6108 low. On the upside, above 1.6453 will turn bias back to the upside, and resume the rise from 1.6108 through 1.6516 instead.
In the bigger picture, outlook will stay bearish as long as 1.6842 resistance holds. Fall from 1.8554 (2025 high) is expected to continue to 61.8% retracement of 1.4281 to 1.8554 at 1.5913. Decisive break there will pave the way back to 1.4281 (2022 low). However, firm break of 1.6842 should confirm medium term bottoming, and bring stronger rally.
