EUR/USD and EUR/AUD technical market outlook

The EUR/USD currency pair is showing signs of a short-term bullish recovery after finding support in the 1.1570–1.1580 range. Analysts suggest that if the pair maintains levels above 1.1590–1.1600 and breaks the 1.1620 resistance zone, momentum could drive prices toward targets of 1.1630, 1.1650, and potentially 1.1670. However, a decisive break below 1.1565 could extend the current downward trend toward the 55-day EMA at 1.1549.

In the broader market context, traders are monitoring four-hour support areas for signs of buyer defense. A genuine structural reversal would require evidence of momentum exhaustion, the formation of higher lows, or a successful break and retest of intraday resistance.

Separately, the EUR/AUD pair continues to face downward pressure. The bearish outlook remains intact as long as resistance holds at 1.6617. A break below the 1.6108 low could accelerate the trend toward a projected target of 1.5359.