EURAUD Forming Bearish MomentumEUR/AUDOANDA:EURAUDAndrewsMarket-MasteryEUR/AUD is trading within a range, holding just above the significant 0.8600 support area. Bulls could regain control if the pair breaks decisively above the 0.8670–0.8680 resistance zone, which may propel prices toward the previous high near 0.8752. However, if the pair slips below 0.8600, it could signal a shift to bearish momentum, with potential downside toward the 0.8506 level in line with the 61.8% Fibonacci retracement. Indicators like RSI near the 60 level suggest that there’s still room for upward movement . Chart patterns also reflect a possible Gartley harmonic structure forming, indicating a corrective rebound may be underway. On the fundamental side, the euro faces headwinds due to political uncertainty and weaker market confidence in the UK, highlighted by fiscal concerns and volatile government policy direction. That said, some narratives suggest an improving outlook for sterling later in the year, supported by diverging central bank expectations and economic data. EUR/AUD is currently consolidating above 0.8600. A sustained move above 0.8670 could indicate bullish continuation toward 0.8750+, while a drop below 0.8600 may open the path to additional downside. Market participants should monitor central bank commentary, UK economic data, and political developments to better anticipate future direction.