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The EUR/AUD pair is currently showing an intraday bullish bias, with a rising move from 1.6108 progressing toward the 161.8% Fibonacci projection at 1.6628. Key resistance lies at 1.6628, while a breakdown below 1.6480 could shift the bias to neutral, leading to potential consolidation. Technically, the pair remains in a broader bearish trend despite short-term gains.
For traders, the immediate focus is on whether EUR/AUD can sustain above 1.6480 to maintain upward momentum. A failure to hold this level may trigger profit-taking and volatility. The 161.8% extension at 1.6628 is critical for confirming a bullish breakout, while a retest of 1.6108 could signal a reversal.
Long-term bearish sentiment persists due to macroeconomic factors affecting the Eurozone and Australia. Traders should monitor central bank policies and global risk appetite shifts. The next key levels to watch are 1.6628 (resistance) and 1.6108 (support). A decisive move beyond these could redefine the pair’s trajectory.
