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 strong support, risks of breakout increase
16.05.2024
After breaking 1.6280 support, the euro continued to fall against the Australian dollar and tested 1.6224 support, after which there was a rebound to 1.6295 resistance. The euro selling continues, and bears may retest 1.6230. Breaking resistance will lead to a growth toward 1.6320-1.6340. Continued growth in stock indices may continue to support the Australian dollar, while their decline may contribute to pressure.
EUR/AUD declines
15.05.2024
Risk appetite continues to stimulate demand for the Australian dollar, prompting the euro to break 1.6320 support and test 1.6280 support level against it. The pair may continue to decline toward 1.6250-1.6230, but in the event of a decline in stock indices, the Australian dollar may come under pressure. Breaking resistance at 1.6305 will lead to a growth toward 1.6340-1.6350.
EUR/AUD attempts to break 1.6345 resistance
14.05.2024
Buying of the euro against the Australian dollar from the 1.6300 support enabled bullish investors to test 1.6345 resistance again. However, they're still unable to surpass it, keeping the risk of breaking 1.6320 support and 1.6300. Breaking resistance will lead to a growth toward 1.6370-1.6380.
EUR/AUD is under pressure after the rise
13.05.2024
Breaking local 1.6320 resistance, the euro rose to 1.6350 resistance against the Australian dollar. Selling pressure keeps increasing, driven by the attraction toward risky assets, and bears might revisit the 1.6290-1.6280 support level. Breaking 1.6320 resistance would increase the chances of surpassing 1.6350 and growing toward 1.6380-1.6400.
EUR/AUD is under pressure
10.05.2024
The desire for risk is still encouraging people to buy risky things like the Australian dollar. Thus, the euro remains under pressure against it, but its decline at this stage is limited by 1.6280 support. Selling interest is noted at the 1.6320 level, below which the risks of breaking support and declining toward 1.6250-1.6220 persist. In case of stock index correction, the euro may break resistance and test 1.6350.
EUR/AUD remains under pressure after the rise
09.05.2024
Continuing its climb against the Australian dollar, the euro surpassed 1.6330 resistance yesterday and attempted to break 1.6380 resistance. However, facing selling pressure, it fell back to 1.6425 support. Any attempts to rise might be seen as opportunities for selling, with a potential test of the 1.63 level. Breaking 1.6355 resistance will lead to a growth toward 1.6380-1.6400.
EUR/AUD remains under pressure after rise
08.05.2024
The euro's increase against the Australian dollar after the Reserve Bank of Australia decided not to change the interest rate was stopped by 1.6330 resistance. After that, the euro started facing pressure again, increasing the chances of breaking 1.6275 support and dropping toward 1.6250-1.6220. Breaking resistance will lead to a growth toward 1.6350-1.6370.
EUR/AUD recovers losses
07.05.2024
The decline in the euro against the Australian dollar was halted by buying interest at the 1.6220 level. After rebounding from recent losses, the euro reached 1.6330 resistance, which bulls are currently struggling to surpass. From here, a resumption of selling and a decline toward 1.6270-1.6240 is possible. Breaking resistance will lead to growth toward 1.6360-1.6380. As predicted by analysts, the RBA left the interest rate unchanged.
EUR/AUD returned to 1.6310 support
03.05.2024
The rise in stock prices shows that people are feeling more confident about taking risks, which makes them want to buy more Australian dollars, but the euro in the pair dropped to 1.6310 support. From this support, there could be attempts to rise again and test 1.6360-1.6380 resistance. However, if support is lost, it could lead to a decline toward 1.6270-1.6240.
EUR/AUD continued to decline
02.05.2024
After rising to 1.6490 resistance, the euro faced pressure from the Australian dollar, breaking 1.6440 support and testing 1.6365 support at the moment. From this point, there might be efforts to increase toward 1.6420-1.6440. Breaking it will lead to a decline toward 1.6340-1.6310.
EUR/AUD returned to the 1.6490 resistance
01.05.2024
Strong data from Germany and the Euro Area contributed to the euro's rise against the Australian dollar, leading to the breakout of several resistances and testing at 1.6490 residence levels. Currently, the drop in price is stopped by 1.6445 support. If the price stays above this level, buyers might try again to break the resistance. Losing support will lead to a decline toward 1.6420-1.6400.
EUR/AUD is recovering after a decline
30.04.2024
Euro bears failed to break 1.6310-1.6290 support against the Australian dollar yesterday, triggering the liquidation of short positions and the recovery of the pair to 1.6420 resistance currently. This rebound might present an opportunity for selling, however, if resistance is surpassed, the euro could rally toward 1.6460-1.6480.
EUR/AUD refreshes current minimum
29.04.2024
As expected, the formation of descending peaks preceded the euro's breakout below the 1.6370 support level against the Australian dollar, after which the euro declined to the 1.6293 support. Growth attempts are currently limited by 1.6350 resistance, below which there are still risks of retesting the current minimum. Passing the resistance will lead to a growth toward 1.6380-1.6400, where euro selling is again possible.
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.
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.