EUR/AUD forecast for today by Traders Union analysts
EUR/AUD is the currency pair that shows the price of one euro in Australian dollars. It is considered a cross pair and has rather low volatility. Euro is the base currency in the pair and the Australian dollar is the quoted currency. TU analysts use various methods of technical analysis for making forecasts. This helps traders understand the market situation quicker and make the right trading decision.
EUR/AUD tested 1.6380 strong support
26.04.2024
Sales of the euro against the Australian dollar from 1.6480 resistance led to a breakout of 1.6410 support and testing of 1.6380 stronger support level. The euro is still being bought on the decline, which brought it back above the previously broken 1.6410 level. On pullbacks, it may be sold again, but the breakout of 1.6440/50 resistance will lead to a growth toward 1.6480.
EUR/AUD continues to sell on rallies
25.04.2024
The euro was bought yesterday against the Australian dollar from 1.6415 support , after testing which the euro retreated to 1.6480 resistance. Nevertheless, upside attempts continue to be used for selling, against which the risks of breaking support and declining toward 1.6380-1.6360 remain high. Breaking resistance will lead to a growth toward 1.6520-1.6540.
EUR/AUD dipped to 1.6410
24.04.2024
Remaining under selling pressure, the euro declined against the Australian dollar yesterday to 1.6490 support. It was broken in the Asian session and the euro declined to the 1.6410 support. Next, the 1.6380-1.6370 support may be tested, where moderate bullish activity is possible. Pullbacks toward 1.6470/80 may be used for selling.
EUR/AUD recovers losses after German PMI release
23.04.2024
Breaking 1.6545 support, the euro continued to decline against the Australian dollar and tested 1.6490 support. On the strong German manufacturing PMI, the euro soared to 1.6560 resistance, from which the euro could be sold again. Its breakout will lead to a growth toward 1.6590, but more significant growth is unlikely.
EUR/AUD risks further decline
22.04.2024
The euro sales against the Australian dollar on the ascent to the level of 1.6680 led to its descent to 1.6540 support. After bouncing back to 1.6585 resistance, sales resumed, and bears are once again striving to break support, in which scenario, a descent toward 1.6500-1.6480 can be anticipated. Such a scenario presently appears to be the most likely. Breaking 1.6565 will permit a retest of 1.6585-1.6610.
EUR/AUD returns to support at 1.6580 after rising to 1.6680
19.04.2024
In the pair with the Australian dollar, the euro traded within the range between resistance at 1.6580-1.6600 and support at 1.6540. Amid risk-off sentiment triggered by Israel's strike on Iran, the euro surged to the 1.6680 level, where it was sold, and is currently testing 1.6580 as support. Attempts to rise toward 1.6620-1.6640 are possible from here. Loss of support will lead to a decline toward 1.6550/40. With expectations of the ECB cutting interest rates in the near term, the euro may remain vulnerable.
Euro/Australian dollar consolidates after growth
18.04.2024
After rising to 1.6600-1.6620 resistance against the Australian dollar, the euro is in a consolidation phase, trading between this resistance and support at .,6540. Expectations of a rate cut by the ECB may contribute to breaking the support and declining toward 1.6510-1.6490. A confident break of resistance will pave the way to the 1.67 figure.
Euro/Australian dollar declines following growth
17.04.2024
Having broken 1.6550 support, the euro continued to grow against the Australian dollar toward 1.6615 resistance. Following the ‘soft’ comments by the European Central Bank (ECB), the euro retreated toward 1.6570 support. If it breaks the support, the price could continue to decline toward 1.6520-1.6500, while passing 1.6590 will lead to a growth toward 1.6620.
Euro/Aussie continues to grow
16.04.2024
The continued sell-off in the Australian dollar helped the euro continue to rise in pairing with it. Having found support around 1.6420, the euro broke through resistance around 1.6480 and rose to resistance at 1.6575. The nearest support is at 1.6550, above which there is still upside potential to the 66 figure; a loss of this support would lead to a decline towards 1.6515.
Euro/Aussie redeemed again from 1.6380 support
15.04.2024
Aussie dollar sell-offs due to anti-risk sentiment contributed to the euro's rebound from 1.6380 support to resistance near 1.6475, where sell interest remains, against which a test of 1.6410-1.6380 support is possible; a pass of resistance will lead to a rise towards 1.6500-1.6520.
Euro/Aussie returned to the support at 1.6380
12.04.2024
The rise of the euro to the resistance around 1.6510 in the pair with the Australian dollar is expectedly used for selling, returning it to the support around 1.6380, which increases the risks of its breakdown and decline towards 1.6330; the passage of 1.6410 will lead to growth towards 1.6440.
Euro/Aussie soared towards resistance at 1.6515
11.04.2024
The anti-risk sentiment triggered the sell-off of the Australian dollar, amid which the euro soared towards the resistance of around 1.6515 in the pair. At the moment, the pair rolled back to the support at 1.6455, from which attempts to break through the resistance are possible; its loss will lead to a decline towards 1.6420-1.6400. Further development of the downward correction on the stock markets may help to maintain pressure on the Aussie.
Euro/Aussie continues to decline
10.04.2024
Yesterday, the pressure on the euro in the pair with the Australian dollar from the sellers persisted, as a result of which the support in the area of 1.6420 was broken, and the support of 1.6370 was tested. The nearest resistance at the moment is around the 64th figure, which indicates the risks of breaking the support and decline in the direction of 1.6350-1.6320; the passage of the 64th figure will lead to growth in the direction of 1.6430-1.6450.
Euro/Aussie returned to support at 1.6415
09.04.2024
After testing the resistance around 1.6500, the euro declined against the Australian dollar again, and the bears tested the support around 1.6415. From it, euro buying is possible, and bulls are testing resistance at 1.6470-1.6500; loss of support will lead to a decline towards 1.6380-1.6360.
Euro/Aussie trades below 1.6490
08.04.2024
In the pair with the Australian dollar, the euro continued to experience the pressure of sellers, but they could not break through the support near the levels of 1.6450-1.6440. The bulls, in turn, cannot overcome the resistance at 1.6490, which indicates the risks of losing support and declining towards 1.6420-1.6400; breaking the resistance will lead to growth at 1.6520-1.6550.
Euro/Aussie selling on the upside
05.04.2024
Euro selling against the Australian dollar led to a break of 1.6490 support and its fall to support around the 1.6415 level, followed by a rebound to 1.6490, which now acts as resistance. A rise towards this level could be used to sell and test yesterday's low; a break of resistance would lead to a rise towards 1.6520-1.6540.
Euro/Aussie resumed falling
04.04.2024
Absorbing the oafs placed from the level of 1.6560 in the pair with the Australian dollar, the euro bulls again failed, and amid the liquidation of long positions, the pair declined to the support of 1.6450. A loss of 1.6490/80 support suggests a decline towards the 64 figure at least; bounces towards these levels could be used for selling.
Euro/Aussie bought on the fall, sold on the rise
03.04.2024
Euro selling for the Aussie dollar led to a break of support around 1.6520/10 and a decline towards 1.6490 support before the euro bounced towards 1.6550 resistance. Pressure on the pair remains, and downside risks are towards 1.6450; a break of 1.6540 will lead to an upside towards 1.6560-1.6590.
Euro/Aussie once again sold on growth
02.04.2024
On another growth attempt, the euro was sold for the Australian dollar, and as a result, it fell to support at 1.6515 after testing resistance near 1.6570. Risks of its breakdown and decline towards 1.6480-1.6450 remain high; passing 1.6540 will lead to growth towards 1.6570-1.6600.
Euro/Aussie remains under pressure
01.04.2024
Amid selling from resistance around 1.6620, the euro continues to decline against the Australian dollar, having tested 1.6510 support. On pullbacks, it continues to be sold, and next, bears may test the support at 1.6480; passing 1.6550 will lead to growth to 1.6570, but on the approach to this level, the bears' activation is possible.
Euro/Aussie sold off again on the upside
29.03.2024
Euro selling for the Aussie dollar on the rise to resistance around 1.6620 led to a fall to support at 1.6530. The high probability that the ECB will cut interest rates in June may continue to pressure the euro, and bears may test 1.6520-1.6500; a pass of 1.6565 would lead to a rise to 1.6590.
Euro/Aussie was bought back from support again
28.03.2024
Remaining under selling pressure for the Aussie dollar, the euro declined to support around 1.6550, but demand from this level brought the pair back to resistance at 1.6620, which increases the chances of breaking it and rising towards 1.6650-1.6680, a loss of support at 1.6590 would lead to a decline towards 1.6560-1.6540.
Euro/Aussie fails to break 1.6620
27.03.2024
Euro/Aussie dollar buying from support near 1.6560-1.6540 led to a test of resistance at 1.6620, but both attempts to break it were unsuccessful. The euro is under pressure again, risking a move back to the above support. A break of the resistance will lead to a rise towards 1.6650-1.6670.
Euro/Aussie trades flat
26.03.2024
The Euro bought on the decline against the Aussie to support near 1.6540, but its gains are limited by resistance near 1.6595. In the absence of fresh market drivers, the EUR/Aussie may consolidate between resistance near 1.6620 and support at 1.6540-1.6500 in the short term; breaking out of the range will mark the direction of further movement.
Euro/Aussie tested 1.6620
25.03.2024
Purchases of the euro for the Australian dollar led to the breakdown of resistance in the area of 1.6550 and growth to the level of 1.6620, after which there was a pullback to the support of 1.6575. On pullbacks, it is possible to buy the euro, and its growth is in the direction of 1.6620-1.6650; loss of support will lead to a decline in the direction of 1.6520-1.6500.
Euro/Aussie bought back on the fall
22.03.2024
Yesterday's fall of the euro against the Australian dollar was stopped by demand from the level of 1.6480, against which it rose to the resistance of 1.6620. The euro continues to be bought back on pullbacks, which keeps the chances of growth towards 1.6650-1.6680, where selling is again possible; a loss of 1.6585 support will lead to a decline toward 1.6650-1.6625.
Euro/Aussie sells off
21.03.2024
Yesterday, the Euro sold off for the Aussie dollar, as a consequence of which the support around 1.6620 was broken, and the level of 1.6480 was tested for now. Pullbacks towards 1.6530-1.6560 can be used for selling; a break of the latter level will lead to a rise towards 1.6590; loss of support will lead to a decline towards 1.6450 support.
Euro/Aussie tested 1.6680 on the RBA decision
20.03.2024
On the RBA's decision to leave the interest rate level unchanged, the Euro broke through the resistance around 1.6600 and rose to the level of 1.6680 paired with the Australian dollar. After testing this level, it rolled back to the support at 1.6625 and is now trying to consolidate above it, which will keep its chances of returning to yesterday's high; a loss of support will lead to a decline towards 1.6580-1.6560.
Euro/Aussie remains in a range
19.03.2024
In a low-volatility environment, the euro again failed to break the resistance around 1.6600 paired with the US dollar, forcing it to retreat back to support at 1.6570. From there, attempts to break resistance are still possible; a loss of support would lead to a decline towards 1.6540-1.6510.
Euro/Aussie is still in demand
18.03.2024
In the pair with the Australian dollar, the euro bulls were able to overcome the bears' resistance near the level of 1.6560 and lift the pair towards 1.6610. They continue to buy it from the support around 1.6580-1.6570, which gives them hope for the breakdown of the resistance and the growth of the euro in the direction of 1.6630-1.6660, but its growth can still be used for selling. A loss of support will lead to a decline towards 1.6540-1.6520.
EUR/AUD Chart
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How is the EUR/AUD forecast made?
If you look at the EUR/AUD chart, you will see that this pair has low volatility and therefore is considered a non-technical one. It is suitable for novice traders who prefer conservative or moderate Forex trading strategies.
The exchange rate is influenced not only by the general trend in the international Forex market but also by the difference in the discount rates of Australia and Europe, consumer and commodity prices. However, the European countries rely on the services sector and industry, while the Australian economy is developing thanks to agriculture and natural resources.
This trading pair correlates with GBR/JPY, USD/JPY, and EUR/JPY the most. TU experts have determined that the correlation is dynamic and could differ on different days or chart intervals. Therefore, when making trading decisions, you need to take into account the EUR/AUD forecast made by experts based on technical indicators, patterns, and support and resistance levels.
FAQ
1
Is trading euro to Australian dollar suitable for beginners?
The EUR/AUD has low
volatility and therefore is fully suitable for novice traders. You won’t be able to earn too much, but the risks of loss are not as high as when working with other trading pairs. It is, however, a mistake to rely exclusively on intuition and luck when making decisions, because the price movement may change at any moment.
2
How is a price forecast made?
Experts use various methods of
technical analysis when making the price forecast. It shows the most likely ‘behavior’ of the exchange rate based on the current situation in the market and the chart for the previous period.
3
When is the peak of trading activity for EUR/AUD?
The peak of trading activity for the EUR/AUD currency pair is usually observed at the European exchange from 08:00 am until 4:00 pm (GMT+1). Volatility is rarely higher than 50 points.
4
What trading pairs does EUR/AUD correlate with?
EUR/AUD correlates with such currency pairs as GBP/JPY, USD/JPY, and EUR/JPY. However, the correlation is dynamic and could differ on different days or chart intervals.