EUR/AUD Daily Outlook: Consolidation and Bearish Bias

Tuesday, 9 July 2024, 07:36

EUR/AUD is currently consolidating with a neutral bias, but the overall outlook remains bearish as long as the 1.6211 resistance turned support level holds. A break below 1.5996 could lead to further downside targeting the key support level at 1.5846.

Actionforex — EUR/AUD Daily Outlook: Consolidation and Bearish Bias

EUR/AUD Daily Outlook

EUR/AUD is still bounded in consolidation from 1.5996, maintaining a neutral bias.

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

Key Target Levels:

Downside Break: Break of 1.5996 will target projection levels from 1.6679 to 1.6211, aiming at 1.5950.
Major Support: Firm break below 1.5950 could lead to testing 1.5846 key support.

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.

EUR/AUD Daily Outlook

Key Target Levels:

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