EURAUD – Moderate Bearish Pressure with Rallies Being SoldEuro/Australian DollarFX:EURAUDfxliquiditylabEURAUD, trading at 1.62653, remains in a technically sensitive area. The pair does not appear to be in a strong directional expansion phase right now, but rather in a zone of conflict between bearish continuation and a corrective rebound. Macro and fundamental view On the Australian side, the broader backdrop still favors the AUD. Inflation in Australia remains relatively sticky, recent activity has shown resilience, and the RBA has returned to a more restrictive tone. This combination tends to support the Australian dollar through interest rate differentials and expectations of a less flexible monetary stance. In the euro area, the picture is softer. Inflation is closer to target, growth remains modest, and the ECB appears less aggressive than the Australian central bank. This reduces part of the euro’s structural support against currencies backed by firmer rate dynamics, such as the Australian dollar. In short, the current macro differential favors moderate bearish pressure in EURAUD rather than a solid bullish recovery. Price action From a price action perspective, a few zones deserve close attention: 1.6330 – 1.6400 → first important supply zone. If price rallies into this area and shows rejection, upper wicks, or loss of momentum, sellers may step in again. 1.6200 – 1.6150 → first relevant support zone. This is where buyers may try to defend price in the short term. 1.6000 → key psychological and structural support. If this level is lost with acceptance, the bearish view gains strength. 1.6500 – 1.6600 → zone that weakens the bearish thesis if reclaimed with conviction. Main scenario The base case remains moderate bearish continuation, with the possibility of short corrective rallies before renewed selling pressure. As long as price stays below the 1.6330 – 1.6400 area, the pair can still move toward 1.6200, 1.6150, and if that region breaks, 1.6000. Alternative scenario If the market reclaims 1.6400 with acceptance and follow-through, bearish pressure weakens in the short term. In that case, EURAUD may extend a broader correction toward 1.6500 – 1.6600 before defining its next structure. Conclusion At this stage, EURAUD shows a moderately bearish macro and technical bias. The structure still favors selling rallies while price remains below nearby resistance. A consistent recovery above 1.6400 would partially invalidate this view. Not financial advice. Market study based on price action, macro structure, and relative flow between the euro and the Australian dollar.