EUR/AUD Consolidation Continues While Key Support Holds

Monday, 8 July 2024, 06:06
The intraday bias for EUR/AUD remains neutral with ongoing consolidation near 1.5996. The bearish outlook persists as long as the 1.6211 support turned resistance remains intact. A break below 1.5996 is anticipated to trigger a further downside movement targeting the critical support level at 1.5846.
Actionforex
EUR/AUD Consolidation Continues While Key Support Holds

EUR/AUD Daily Outlook

Intraday bias in EUR/AUD remains neutral as consolidation from 1.5996 is still extending.

Outlook will remain bearish as long as 1.6211 support turned resistance holds.

  • On the downside, break of 1.5996 will target 100% projection of 1.6679 to 1.6211 from 1.6418 at 1.5950.
  • Firm break there will target 1.5846 key support next.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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