CFD Trading Rate Euro vs Australian Dollar (EURAUD)

• EUR/AUD remains flat, with the formation of a 'doji' indicating indecision among traders in the face of Eurozone political challenges.
• RSI suggests a neutral stance, hinting at potential sideways movement in the near term.
• Key resistance and support levels to watch include 1.6574 and 1.6450 respectively, with further downside possibly testing SMA levels at 1.6375 and 1.6359.

The EUR/AUD consolidates below 1.6500 for the second consecutive day and trades at 1.6499, virtually unchanged. The Eurozone is experiencing turbulent moments amid political issues in France and Germany, two of the bloc's largest economies. Although the Euro holds firm, the end of the year keeps traders from opening fresh bets against the shared currency.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD consolidates, forming a ‘doji,’ meaning neither buyers nor sellers are in control. The Relative Strength Index (RSI) is bullish, though the slope turned flat, meaning the cross would likely remain sideways.

For a bullish resumption, the EUR/AUD first resistance would be the December 11 high at 1.6574. Once surpassed, the next stop would be the 1.6600 figure. Conversely, if EUR/AUD extends its losses below 1.6450, the next support would be the 100-day Simple Moving Average (SMA) at 1.6375, followed by the 200-day SMA at 1.6359.

EUR/AUD Price Charr – Daily

• EUR/AUD rebounds from a low of 1.6361, trimming earlier losses.
• Technical outlook shows EUR/AUD consolidated within the 1.6350-1.6480 range amid mixed signals.
• Resistance ahead at 1.6500 and 1.6575; support positioned near 1.6400 with potential further dip towards 1.6375/59.

The EUR/AUD trims some of its earlier losses on Thursday as the European Central Bank lowered interest rates. Initially, the cross plunged to a daily low of 1.6361, but it made a U-turn as buyers bought the dip, toward current exchange rates. At the time of wiring, the pair trades at 1.6449, down 0.15%.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD seesawed after Aussie jobs data and the ECB’s monetary  policy meeting, however it remained consolidated at around the1.6350-1.6480 range.

Momentum remains buliish as depicted by the Relative Strength Index (RSI), but sellers are looming after the cross-pair printed back-to-back bearish days.

If EUR/AUD extends its gains past 1.6500, the next resistance would be December 11 swing high at 1.6575. If surpassed, the next stop would be October 30 daily high at 1.6599.

On the other hand, sellers must take out the 1.6400 mark to extend the downtrend towards the confluence of the 100 and 200-day SMAs at 1.6375/59, followed by the 50-day SMA at 1.6281.

EUR/AUD Price Chart – Daily

• EUR/AUD gains 0.67% after RBA holds rates steady, signaling a dovish outlook with easing inflation pressures.
• Despite gains, potential ECB rate cuts loom, influencing near-term trading dynamics for the cross-pair.
• Technical levels to watch: Support at 1.6450 and 1.6400, with resistance near the recent peak at 1.6540.

The EUR/AUD soared to a new two-day peak on Tuesday after the Reserve Bank of Australia (RBA) kept rates unchanged yet adopted a dovish stance, as they noted inflation is beginning to ease towards its 3% goal. At the time of writing, the cross-pair trades at 1.6497, gains over 0.67%.

EUR/AUD Price Forecast: Technical outlook

The pair began the week lower, but the RBA’s decision pushed the EUR/AUD pair toward a two-day high of 1.6540. Nevertheless, traders pared some of those gains, as the European Central Bank (ECB) is expected to lower rates at the December 12 meeting.

Momentum remains slightly bullish, yet the Relative Strength Index (RSI) suggests that sellers have the upper hand in the short term.

The EUR/AUD first support would be the 1.6450 area, followed by the 1.6400 psychological mark. On further weakness, the next support would be the 100-day Simple Moving Average (SMA) at 1.6382, followed by the 200-day SMA at 1.6364. A breach of the latter will expose 1.6300.

Conversely, if buyers clear 1.6500, immediate resistance would be 1.6540, followed by 1.6561, the December 6 peak.

EUR/AUD Price Chart – Daily

• EUR/AUD climbs 0.38%, successfully crossing both 100-day and 200-day SMAs, indicating strong upward potential.
• Next resistance targeted at 1.6600; consolidation likely if buyers secure a daily close above 1.6400.
• Support levels to watch are 1.6300 and the 50-day SMA at 1.6260, with further downside risk to 1.6159.

The EUR/AUD rallied above key technical resistance levels, such as the 100—and 200-day Simple Moving Averages (SMAs) at around 1.6367-79. The cross-currency pair climbed above the 1.6400 figure, posting gains of 0.38% on Thursday during the North American session.

EUR/AUD Price Forecast: Technical outlook

Currently, the EUR/AUD trades above 1.6400, which could pave the way for challenging the next resistance level, at 1.6600, the October 31 daily peak. Although bullish momentum increased, as seen by the Relative Strength Index (RSI), buyers face stir resistance, which could pave the way for a consolidation.

Buyers must achieve a daily close above 1.6400 and clear the November 6 daily high of 1.6497 before having a chance of testing 1.6600. Otherwise, sellers could step in and drag the exchange rate toward the 50-day SMA at 1.6260, but first, they need to surpass the 1.6300 mark.

In that outcome, the EUR/AUD's next support would be the December 2 swing low of 1.6159, followed by the 1.6100 mark.

EUR/AUD Price Chart – Daily

• EUR/AUD climbs over 0.86%, rebounding off a low of 1.6198 as bullish sentiment takes hold.
• The pair tested but failed to breach the confluence of the 100 and 200-day SMAs at around 1.6378.
• Potential upward targets set at 1.6400 and 1.6500, with October highs in view; support remains near weekly lows of 1.6159.

The EUR/AUD snaps four days of losses and climbs over 0.86% on Wednesday, late in the North American session. At the time of writing, the cross-currency pair trades at 1.6341 after bouncing off daily lows of 1.6198.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD remains sideways; yet It tested the confluence of the 100 and 200-day Simple Moving Averages (SMAs) at 1.6378-67 but failed to extend its gains past that level, retreating below 1.6370.

Momentum has shifted bullish, as depicted by the Relative Strength Index (RSI), an indication that the pair could aim towards 1.6400.

If EUR/AUD clears the 1.6400 figure, the next stop would be 1.6500, followed by the October 31 peak at 1.6600.

Conversely, if the pair reverses below 1.64300, it could test the current week’s low of 1.6159. A breach of the latter will expose the October 2 low of 1.6005 before testing the yearly low of 1.5966.

EUR/AUD Price Chart – Daily

• EUR/AUD remains flat, reflecting a lack of direction amid a broader downtrend.
• Key support at 1.6150 holds; a break could lead to further declines towards 1.6100 and potentially 1.6005.
• Upside potential seen if EUR/AUD surpasses the 50-day SMA at 1.6256, targeting resistance up to 1.6370.

The EUR/AUD has posted back-to-back negative days, as political turmoil in France weighed on the shared currency. At the time of writing, the cross-pair trades at 1.6210, virtually unchanged compared to its opening price.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD hovers at around 1.6200 directionless, even though it has a carver series of lower highs and lower lows, an indication of an ongoing downtrend.

From a momentum standpoint, sellers seem to be gathering steam as depicted by the Relative Strength Index (RSI). However, they have not been able to decisively breach 1.6150, which could pave the way for further EUR/AUD downside.

In that outcome, the EUR/AUD's first support would be the 1.6100 mark. On further weakness, the pair might reach the October 2 low of 1.6005 before testing the yearly low of 1.5966.

Conversely, if EUR/AUD advances past the 50-day Simple Moving Average (SMA) of 1.6256, the pair could challenge the 1.6300 figure, followed by the confluence of the 100 and 200-day SMAs at 1.6370.

EUR/AUD Price Chart – Daily

• EUR/AUD remains pressured below 50, 100, and 200-day SMAs, holding above 1.6200 for four consecutive days.
• Break above 1.6252 could target 1.6300, with 1.6372 (SMA confluence) as the next resistance zone.
• Downside risk remains intact, with support seen at 1.6159 and major support at 1.5966 if the pair dips below 1.6200.

The EUR/AUD pair remains pressured, yet buyers trimmed some of its earlier losses with the pair hitting a daily low of 1.6159. At the time of writing, the cross-pair trades at 1.6216, down by just 0.12%.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD consolidates above 1.6200 for the fourth straight day, and despite trading below the 50, 100, and 200-day Simple Moving Averages (SMAs), the pair is neutrally biased.

If EUR/AUD climbs past the 50-day SMA of 1.6252, buyers could challenge the 1.6300 figure. A breach of the latter will expose the confluence of the 100 and 200-day SMAs at 1.6372 before aiming toward 1.6400.

On the other hand, the RBA’s restrictive monetary policy stance favors the downside of EUR/AUD. Therefore, if EUR/AUD drops below 1.6200, the first support would be a December 2 low of 1.6159. On further weakness, the next stop would be major support at the November 22 swing low of 1.5966

EUR/AUD Price Chart – Daily

• EUR/AUD falls 0.20%, influenced by expectations of ECB policy easing.
• Technical indicators show a shift to neutral as EUR/AUD invalidates head-and-shoulders pattern.
• Key resistances await at 1.6254 (50-day SMA) and 1.6300; supports positioned at 1.6168 and 1.6003.
• Support level are seen at 1.6200, 1.6168 and 1.6003.

The Euro took a hit and dived against the Australian Dollar as traders seemed convinced that the European Central Bank (ECB) would lower borrowing costs at the upcoming meeting. The chances of the ECB cutting 50 basis points remain, as most Eurozone economies remain subdued. At the time of writing, the EUR/AUD trades were at 1.6231, down 0.20%.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD shifted from a downward to a neutral bias. Once prices cleared the head-and-shoulders (H&S) chart pattern’s neckline, the H&S was invalidated, indicating that buyers' bulls were gathering momentum.

On its way north, the EUR/AUD found acceptance at 1.6200 before extending its gains, but bulls must reclaim the 50-day Simple Moving Average (SMA) at 1.6254 to keep their hopes of testing 1.6300.

Conversely, if bears move in and push the EUR/AUD below the H&S neckline below 1.6200, this could pave the way for further downside. On that outcome, the first support would be the November 27 low of 1.6168, followed by the November 25 daily low at 1.6003.

EUR/AUD Price Chart – Daly

• EUR/AUD trades at 1.6209, marking a second consecutive day of gains, with a daily high of 1.6244.
• Resistance levels: 50-day SMA at 1.6261, followed by 1.6300, and the 100-day SMA at 1.6365.
• Support levels: 1.6200, 1.6161 (Nov 7 low), and key psychological level at 1.6100.

The EUR/AUD advanced for the second straight day, as Trump’s threatening to impose tariffs on China was a headwind for the Aussie Dollar. Therefore, the cross-pair rose over 0.50% and traded at 1.6209 at the time of writing.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD’s downtrend remains intact, with the pair registering a successive series of lower highs and lower lows. Even though the pair hit a daily high of 1.6244, near the day Simple Moving Average (SMA) at 1.6261, sellers stepped in, dragging prices below the head-and-shoulders neckline.

If EUR/AUD climbs past the 50-day SMA, the next resistance would be the 1.6300 figure. A breach of the latter will expose the 100-day SMA at 1.6365, followed by the 200-day SMA at 1.6373.

Conversely, If EUR/AUD drops below 1.6200, the next support would be the November 7 low of 1.6161, followed by the psychological figure of 1.6100. UP next would be the November 25 low of 1.6003, followed by the November 22 low of 1.5963.

EUR/AUD Price Chart – Daily

• EUR/AUD sees a notable recovery, advancing 0.74% despite a disappointing IFO business climate from Germany.
• A potential head-and-shoulder pattern indicates possible continued declines, with key supports at 1.6100, 1.6003, and 1.5963. A further drop could potentially target 1.5900.
• Technical resistances are set at the 50-day SMA of 1.6266 and the psychological mark of 1.6300 if the rally extends.

The EUR/AUD recovered and rallied above the 1.6100 figure, hitting a new two-day high of 1.6163 as risk appetite improved. Softer-than-expected IFO readings in Germany were not an excuse for buyers to buy the shared currency, which the EUR/USD pair have underpinned. At the time of writing, the cross-pair trades at 1.6138, up by 0.74%.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD is still downward biased despite posting a solid recovery. Yet, the head-and-shoulder chart pattern remains in play, and failure to clear the November 7 low of 1.6161, the latest cycle low, could pave the way for a bearish continuation.

If EUR/AUD drops below 1.6100, the next support would be the November 25 low of 1.6003, followed by the November 22 low of 1.5963. If surpassed, the next support would be 1.5900.

Conversely, if EUR/AUD rallies past 1.6200, immediate resistance emerges at the 50-day Simple Moving Average (SMA) at 1.6266. A breach of the latter will expose 1.6300.

EUR/AUD Price Chart – Daily

• Euro experiences significant sell-off, dragging EUR/AUD below critical support levels to its lowest since October.
• Technical analysis indicates a confirmed head-and-shoulders pattern, suggesting extended downward momentum.
• Immediate supports are eyed at October's low of 1.6003 and June 2023's low of 1.5848, with a pattern target near 1.5750.
• Resistance levels to watch include 1.6200 and the 50-day SMA at 1.6283 if there is a reversal in bearish sentiment.

The Euro fell sharply against the Australian Dollar late in the North American session on Thursday. The single currency was the laggard of the FX space, with the EUR/USD pair falling to new yearly lows beneath 1.0500 and dragging the EUR/AUD pair below 1.6100 for the first time since early October. At the time of writing, the cross trades at 1.6087, down 0.70%.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD is biased downward. A head-and-shoulder pattern emerged, further confirmed by the exchange rate, diving below the neckline at around 1.6200 and opening the door for further downside. If the cross breaks below the October 2 swing low of 1.6003, the next support emerges at the June 15, 2023 low of 1.5848 before aiming for 1.5800. If surpassed, the next stop would be the minimum objective for the head-and-shoulders at around the 1.5750-75 range.

Conversely, if EUR/AUD climbs above 1.6200, the next resistance would be the neckline at around 1.6210. On further strength, the next resistance would be the 50-day Simple Moving Average (SMA) at 1.6283.

EUR/AUD Price Chart - Daily

• EUR/AUD drops reacting to the latest insights from the Reserve Bank of Australia's policy discussions.
• Technical indicators show a downward trend with potential support tests at 1.6200 and October lows.
• Resistance lies at the 50-day SMA of 1.6296; a break above could challenge the 100-day and 200-day SMAs at 1.6368 and 1.6385, respectively.

On Tuesday, the EUR/AUD tumbled over 0.39% following the release of the last meeting minutes of the Reserve Bank of Australia (RBA). As Wednesday’s Asian session begins, the cross-pair trades at 1.6222, virtually unchanged.

EUR/AUD Price Forecast: Technical outlook

Technically speaking, the EUR/AUD shifted bearishly biased after clearing the 50, 100, and 200-day Simple Moving Averages (SMAs). Additionally, the successive series of lower highs and lower lows indicated the trend is downwards, and if sellers clear the November 19 low of 1.6211, a test of 1.6200 would be up next. A break below the latter will expose the October 18 low of 1.6134 before the pair drops to October’s low of 1.6005.

However, a decisive break above the 50-day SMA at 1.6296 will immediately expose 1.6300. If surpassed, buyers could regain control if they clear the 100 and 200-day SMAs, each at 1.6368 and 1.6385, respectively.

EUR/AUD Price Chart – Daily

• EUR/AUD softens to around 1.6285 in Monday’s early European session.
• The cross maintains the negative outlook below the key 100-period EMA, but further consolidation cannot be ruled out. 
• The initial support level emerges at 1.6264; the immediate resistance level is seen at 1.6317. 

The EUR/AUD cross weakens to near 1.6285 during the early European session on Monday. The Australian Dollar (AUD) gathers strength against the shared currency amid the hawkish comments from Reserve Bank of Australia (RBA) Governor Michele Bullock last week. 

The RBA reiterated that “the Board is not ruling anything in or out” and that there is “the need to remain vigilant to upside risks to inflation.” Traders brace for the RBA Meeting Minutes from its last board meeting for more clues on future rates, which are due on Tuesday. 

According to the 4-hour chart, the EUR/AUD cross keeps the bearish vibe, with the price holding below the key 100-period Exponential Moving Average (EMA). However, further consolidation cannot be ruled out as the Relative Strength Index (RSI) hovers around the midline, suggesting the neutral momentum in the near term. 

The lower limit of the Bollinger Band at 1.6264 acts as an initial support level for the cross. The crucial contention level is seen in the 1.6205-1.6200 region, representing the psychological level and the low of November 12. The additional downside filter to watch is 1.6135, the low of October 18. 

On the bright side, the first upside barrier for EUR/AUD is located at 1.6317, the 100-period EMA. Further north, the next hurdle to watch is 1.6337, the upper boundary of the Bollinger Band. Any follow-through buying could see a rally to 1.6430, the low of November 5.  

EUR/AUD 4-hour chart

• EUR/AUD trades sideways around 1.6300 even though the Australian job demand remained slower-than-forecast in October.
• RBA Bullock supports maintaining a restrictive stance until inflation gets under control.
• Trump’s policies are expected to keep the Eurozone economy on the backfoot for a longer term.

The EUR/AUD pair trades in a tight range near the key resistance of 1.6300 in Thursday’s North American session. The cross struggles for the direction even though the Australian Employment data for October came in weaker than expected.

The Australian labor market data showed that the economy added 15.9K new workers, lower than estimates of 25K and from 61.3K in September. The Unemployment Rate came in at 4.1%, in line with expectations and the prior release.

The impact of the weak employment data is expected to nominal on market speculation for the Reserve Bank of Australia's (RBA) interest rate outlook as the bank is more focused on taming price pressures with confidence that the job market remains steady. Also, RBA Governor Michelle Bullock said on Wednesday that interest rates are needed to remain at their current levels until price pressures get under control.

According to economists at Capital Economics, the RBA is expected to consider pivoting to interest rate cuts after the first quarter of 2025.

Meanwhile, Euro’s (EUR) broad underperformance is expected to remain intact as Trump’s protectionist policies are expected to impact the Eurozone’s export sector significantly, being a leading trading partner of the United States (US). Apart from that, market participants are anticipating that the European Central Bank (ECB) will fasten its policy-easing cycle amid fears of price pressures remaining below the bank’s target of 2%.

In the European session, ECB Vice President Luis de Guindos said, “All indicators on core inflation are pointing in the right direction.” He added, “If inflation converges towards our goal, then monetary policy will respond accordingly.”

• EUR/AUD tests an immediate barrier at a nine-day EMA at 1.6308 level near the upper boundary of the descending channel.
• An emergence of the bullish bias is possible If the 14-day RSI rises above 50 level.
• The primary support appears at its three-week low of 1.6163.

The EUR/AUD cross gains ground for the third consecutive day, trading near the 1.6300 mark during the Asian session on Thursday. On the daily chart, there are signs that the momentum may be shifting from bearish to bullish as the cross attempts to break above the descending channel pattern.

The 14-day Relative Strength Index (RSI) remains just below the 50 level, indicating continued bearish momentum, though a shift could be on the horizon. If the 14-day RSI rises above 50, it would signal the emergence of bullish sentiment.

On the upside, the EUR/AUD cross tests the immediate resistance at the nine-day Exponential Moving Average (EMA) at the 1.6308 level, aligned with the upper boundary of the descending channel. A breakout above this channel could weaken the bearish bias and support the cross to navigate the region around its two-month high of 1.6600, which was recorded on November 1.

In terms of support, the EUR/AUD cross would meet support at its three-week low of 1.6163, which was recorded on November 7. A break below this level could reinforce the bearish bias and lead the cross to approach the “throwback support” at the psychological level of 1.6000.

EUR/AUD: Daily Chart

• EUR/AUD recovers from daily lows, and traders await the October job report in Australia.
• Technical stance shows EUR/AUD near key support; a drop below 1.6238 could target 1.6200 and lower supports.
• Upside potential exists with resistance at 50-day, 100-day, and 200-day SMAs at 1.6315, 1.6356, and 1.6386 respectively.

The shared currency stages a recovery against the Aussie Dollar on Wednesday, printing gains of over 0.18%, as traders await Australia’s job report. At the time of writing, the EUR/AUD trades at 1.6284 after hitting a daily low of 1.6238.

The Australian Bureau of Statistics (ABS) will reveal employment figures for October. The Employment Change is estimated to have created 25K jobs, below September’s outstanding 64.1K, with the Unemployment Rate expected to remain at 4.1%.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD is neutral to downward biased after the cross plunged below the 200, 100, and 50-day Simple Moving Averages (SMAs), within a confluence zone at around 1.6315/86. Although the exchange rate aimed higher during the last three days, a drop below the November 13 low of 1.6238 could pave the way for 1.6200. A breach of the latter will expose intermediate support at 1.6161, the latest cycle low reached on November 7, followed by the year-to-date (YTD) low of 1.6003.

Conversely, on further EUR/AUD strength, buyers must clear the 50-day SMA at 1.6315. If surpassed, up next would be the 100-day SMA at 1.6356, followed by the 200-day SMA at 1.6386. Once surpassed, the following resistance would be the 1.6400 figure.

EUR/AUD Price Chart – Daily

• EUR/AUD edges lower to near 1.6250 in Wednesday’s Asian session. 
• The cross maintains the negative view below the 100-period EMA, with the bearish RSI indicator. 
• The initial support level is seen at 1.6183; the first upside barrier is located at 1.6293. 

The EUR/AUD cross struggles to gain ground around 1.6250 on Wednesday during the early European session. The US proposed tariff increases on Chinese goods by US President-Elect Donald Trump undermine the China-proxy Australian Dollar (AUD) as Australia is one of China’s largest exporters.

According to the 4-hour chart, the bearish outlook of EUR/AUD remains intact as the cross holds below the key 100-period Exponential Moving Average (EMA). Furthermore, the downward momentum is supported by the Relative Strength Index (RSI), which stands below the midline near 46.50, suggesting that there could still be room for further downside in the near term. 

The initial support level for the cross emerges near the lower limit of the Bollinger Band at 1.6183. Extended losses could see a drop to 1.6135, the low of October 18. The additional downside filter to watch is the 1.6100 psychological level. 

On the upside, the upper boundary of the Bollinger Band near 1.6293 acts as an immediate resistance level for the price. The next hurdle is seen at 1.6322, the 100-day EMA. Any follow-through buying see a rally to 1.6500, round number. 

EUR/AUD 4-hour chart

• EUR/AUD gains some positive traction, though the bias seems tilted in favor of bearish traders.
• Worries about a fresh US-China trade war could undermine the Aussie and cap any further gains.
• A 'Death Cross' formation supports prospects for the emergence of fresh selling at higher levels.

The EUR/AUD cross attracts some buyers during the Asian session on Tuesday and reverses a part of the previous day's slide, though it lacks bullish conviction. Spot prices currently trade around the 1.6235-1.6240 region, up less than 0.20% for the day as traders now look to German macro data – the final CPI print and ZEW Economic Sentiment. 

In the meantime, the Australian Dollar (AUD) continues with its relative underperformance amid worries that US President-elect Donald Trump's protectionist stances could trigger a fresh US-China trade war. This, to a larger extent, overshadows the Reserve Bank of Australia's (RBA) hawkish stance and continues to undermine the China-proxy Aussie, offering some support to the EUR/AUD cross. 

Meanwhile, Trump warned before the election that the European Union would have to pay a big price for not buying enough American exports. This, in turn, could strain the Eurozone’s export sector and potentially impact economic growth. Apart from this, a bullish US Dollar (USD) continues to exert some downward pressure on the shared currency and should keep a lid on the EUR/AUD cross. 

From a technical perspective, the formation of 'Death Cross' – the 50-day Simple Moving Average (SMA) crossing below the 200-day SMA – further warrants caution for bullish traders. Moreover, oscillators on the daily chart have been gaining negative traction and are still away from being in the oversold zone, suggesting that the path of least resistance for the EUR/AUD cross is to the downside. 

Hence, any subsequent move-up might continue to attract fresh sellers ahead of the 1.6300 round figure. This, in turn, should cap spot prices near the 50-day SMA, currently pegged near the 1.6325 region. A sustained strength beyond, however, could lift the EUR/AUD cross back towards the 1.6400 mark, or the 200-day SMA, which should now act as a key pivotal point for short-term traders. 

On the flip side, the 1.6200 round figure, closely followed by the 1.6180 horizontal zone might continue to protect the immediate downside. A convincing break below will reaffirm the negative bias and make the EUR/AUD cross vulnerable to weaken below the 1.6150-1.6145 support, towards the 1.6110-1.6100 area en route to the 1.6060-1.6050 region and the October low, around the 1.6000 psychological mark.

EUR/AUD daily chart

• Eurozone’s thin economic docket and German bond yield dip contribute to EUR’s decline.
• Upcoming Aussie data includes Westpac Consumer Confidence and NAB Business Confidence.
• EUR/AUD technicals suggest potential further downside with key support near 1.6100.

The Euro began the week on a lower note against the Australian Dollar, drops over 0.45% late during the North American session. A risk-off mood trade in the currency market, keept investors worried about possible tariffs by the upcoming Trump’s administration.  The EUR/AUD trades at 1.6207, after reaching a daily high of 1.6284.

EUR/AUD falls as traders eye potential tariffs under Trump and await key Australian data

A scarce economic docket in the Eurozone and Australia, left traders adrift to sentiment linked to the newly elected US President Donald Trump. However, European Central Bank (ECB) members Yannis Stoumaras commented ECB rates will hit 2% goal in September of 2025.

Another reason behind the Euro’s fall was the drop of the 10-year German Bund yield, down two basis points to 2.33%.

In the meantime, the Aussie’s economic docket will feature on Tuesday the release of the Westpac Consumer Confidence for November. October’s reading was 89.8, and any measure below that level, would indicate that Australians are feeling less optimistic on the economy.

Later, the Aussie’s NAB Business Confidence for October, would be revealed. September came at -2.

On the Eurozone area, the schedule will feature German’s inflation rate, which is expected to edge up 0.4% MoM, exceeding September’s 0%. On a yearly basis, October’s inflation is expected to rise to 2%, from 1.6%.

EUR/AUD Price Forecast: Technical outlook

The EUR/AUD remains consolidates, as shown in the daily chart. However, it’s slightly tilted to the downside, as the exchange rate persists below the confluence of the 20, 50 and 100-day Simple Moving Averages (SMAs). This and the Relative Strengt Index (RSI) falling deeper, hints the cross could crack the 1.6200 in the short term.

In that event, the first support would be the 1.6100 psychological level, followed by major support at 1.6005, October 2 swing low. On the other hand, if buyers reclaim 1,6300, the next resistance area would be the confluence of daily SMAs at around 1.6327/1.6332.