EURAUD is showing bearish rejection from the recent resistance area, with price failing to maintain bullish momentum on the 4H timeframe.
The highlighted demand zone below remains the key target, and continued weakness could drive price lower toward the 1.6140 support region.
Recent lower highs and strong bearish candles suggest sellers are gaining control after the temporary upward correction.
If price stays below the 1.6240 resistance area, the market may continue its downward move and retest the marked support zone.
Market sentiment is also influenced by shifting risk appetite and expectations around ECB and RBA monetary policy decisions.
Traders will closely monitor upcoming European and Australian economic data, as volatility could increase and confirm the bearish outlook.
The highlighted demand zone below remains the key target, and continued weakness could drive price lower toward the 1.6140 support region.
Recent lower highs and strong bearish candles suggest sellers are gaining control after the temporary upward correction.
If price stays below the 1.6240 resistance area, the market may continue its downward move and retest the marked support zone.
Market sentiment is also influenced by shifting risk appetite and expectations around ECB and RBA monetary policy decisions.
Traders will closely monitor upcoming European and Australian economic data, as volatility could increase and confirm the bearish outlook.
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✅ ✅✅Join our Free Forex Community Telegram Channel here.
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