EURAUD

EURAUD remains steady above 1.6500, reflecting a recent rebound from lower support levels. Right now, price sits in a tight no-trade band where momentum is fading and risk of whipsaw is elevated. However, the pair is trading well above the 20/50 SMA, increasing the probability of further upward correction or sideways consolidation.

Key Indicators

• Technically, the pair is still demonstrating a short-term bullish market structure on the H4 timeframes.

• Supported by an upward-sloping moving average.

Fundamental Context

Fundamentally, geopolitical developments remain in focus after the United States and Iran agreed over the weekend to halt their latest exchange of attacks.