EURAUD EURAUD Technical Outlook: Bullish Bias Remains Intact Amid Ongoing Correction
EURAUD is currently attempting to consolidate above a key support zone between 1.7600 and 1.7700. The overall structure remains bullish, and within the prevailing uptrend, buyers continue to maintain a strategic advantage.
The market has consistently broken key structural levels, reaffirming bullish sentiment. Following the recent swing high at 1.7882, a corrective move is underway. This pullback may extend toward the Fibonacci 0.7 retracement level, with a critical support area emerging near 1.7696.
Technically, the pair remains well-supported—not only by its upward trend but also by a weakening U.S. dollar, particularly as concerns mount over U.S. economic stability (DXY weakness).
If bulls successfully defend the 1.7696 support zone during this correction, the uptrend is likely to resume, with medium-term potential targeting the 1.85 level.
Key Levels to Watch
Support: 1.7696, 1.7629, 1.7463
.Resistance: 1.7882, 1.7988
A local reversal pattern appears to be forming within the current corrective structure. A confirmed consolidation above the support zone will strengthen the bullish case. In the broader context, the technical setup suggests a continuation of the bullish momentum in both the medium and long term.
