FX.co ★ EUR/AUD

By the end of the week, buyers in the EURAUD pair still managed to push above 1.6510, they even climbed above 1.6540, but they didn’t go any higher right away. Let’s see how they start the new week, but a price gap at the market open would not be surprising at all. If the bulls ultimately hold above 1.6510, then we can expect a rise to 1.6540. After consolidating above 1.6540, the move up can continue toward 1.6570 and 1.6600, and if these levels are also broken, a further rise in EURAUD to 1.6630 and 1.6665 will come into play. If sellers manage to take back the initiative and secure a foothold below 1.6510, then initially we can expect a decline to 1.6480. After breaking below 1.6480, a drop to 1.6450 and 1.6420 becomes realistic. If they successfully consolidate below 1.6420, the downside can extend to 1.6390 and 1.6355, and then the path will open toward 1.6325 and 1.6295.