EURAUD

The euro continued to fall against the Australian dollar this week, reaching a fresh 3-week low of below 1.6350. The currency pair continues trading within a bearish consolidation structure, although short-term pullback reactions remain possible before the next downside move.

Key Indicators

• Price action remains weak. However, the price is approaching a key area of interest, where ascending trendline support aligns with the 1.6330/10 zone, which could act as a short-term demand area.

Fundamental Context

EURAUD is still range-bound, with limited upside and mild price activity due to unpredictable geopolitics. Although yesterday's declining activity indicates a higher probability of additional declines, the overall picture is still in a constructive consolidation phase.