A Look at EUR/AUD: Levels to Watch

EUR/AUD Daily Chart:

Technical Picture:

• Correction of the uptrend
• Demarker at the edge of oversold conditions; a reversal could signal the potential end of the correction
• Sequential with an upward count
• Bullish engulfing daily bar, indicating a possible start of an upward impulse
• Price breaks and retests the descending trend channel
• 65 and 200 SMA are providing support
• 38.2 Fibonacci level offers support around 1.61

EUR/AUD Price Forecast:

Bank traders’ expectations for the fourth quarter are distributed across a broad range between 1.605 and 1.66.

EUR/AUD Price Forecast:

Price forecasts for the end of the third quarter of 2025 indicate upward expectations reaching 1.6650.

In Conclusion:

If the currency cross manages to close a daily bar above the 23.6% Fibonacci level at 1.65, I expect the upward impulse to reach 1.68 and test the local peak on the daily chart at 1.7180.

Alternatively:

If the price closes below 1.63 and invalidates the bullish engulfing day, I anticipate a downward correction that could retest the last local bottom at 1.6030. A break and hold below this level would indicate a retest of 1.5720, where there is a confluence of a downward trendline and the 50.0% Fibonacci level.