Daily Forex Analysis – EUR/AUD
In today’s Daily Forex Analysis, our focus is on the EUR/AUD pair. The Intraday Outlook for EUR/AUD remains in a neutral stance, with the currency pair oscillating within a confined range. Should the pair dip below 1.6649, we could witness an extension of the downward correction, potentially targeting the 1.6261 to 1.6603 support area. Conversely, a decisive surge past the 1.6889 resistance would indicate that the correction from 1.7064 has come to a halt, paving the way for an uptick that could eclipse the 1.7064 mark and reach towards a 1.7379 projection level.
In the broader Daily Analysis, the uptrend that initiated at 1.4283 in 2022 is still very much alive. The next notable objective on the upside stands at 1.7379, derived from a 100% projection of the 1.5256 to 1.6787 rise from the 1.5848 base. The overall bullish sentiment remains intact as long as the 1.5848 support threshold remains unbroken, even if we experience a significant pullback.
Analysis Summary
In our Daily Forex Analysis, the EUR/AUD pair shows a neutral Intraday Outlook. Both downside and upside scenarios are possible, with key levels at 1.6649 and 1.6889. The long-term bullish trend originating from the 2022 low remains in play.
Key Points:
- Neutral Intraday Outlook for EUR/AUD
- Support zone between 1.6261 and 1.6603
- Long-term bullish outlook intact from 2022 low
