EUR/AUD Rebound at Major Support: Bullish Reversal Setup AheadEuro vs. Australian DollarFX:EURAUDthetradeguru_fxTechnical Analysis 1. Key Levels & Price Action Primary Support Zone (1.6110 – 1.6178): Price has recently tested and rejected the lower boundary of a long-term key demand zone around 1.6110 - 1.6178. The highlighted bullish reaction (circled in blue) indicates strong buying pressure and absorption of short positions at these levels. Current Trading Price: 1.62259 (Daily Candle active). Intermediate Resistance (1.63094): The immediate upside barrier where short-term sellers may attempt to pause momentum. A clean daily breakout above this level confirms further extension toward higher targets. Major Upside Resistance Targets: Target 1: 1.64175 (Mid-range structural resistance) Target 2: 1.65869 (Major swing high resistance zone) 2. Structure & Market Dynamics The pair has been range-bound across multi-month swings between 1.6100 and 1.6580. The lower shadow on the recent rejection candle highlights a liquidity sweep of previous lows before buyers reclaimed 1.6200. Risk-to-reward (R:R) for long positions setup from the support region offers 1:3+ targeting the upper boundary near 1.6580. Fundamental Analysis ECB Policy Stance: Inflation pressure in the Eurozone has prompted expectations for the European Central Bank (ECB) to maintain a firm rate policy or evaluate potential hikes, offering underlying support to EUR strength. RBA & Commodity Drivers: The Australian Dollar remains sensitive to global growth sentiment and commodity price swings. Any softening in broader market risk sentiment favors defensive strength in the Euro relative to AUD. Macro Environment: The interest rate differential and shift in global market sentiment support a cyclical bounce for EUR/AUD within its established macroeconomic range. Trade Setup Summary Bias: Bullish / Long Entry Zone: 1.6180 – 1.6225 Stop Loss (SL): Below major swing low at 1.6090 Take Profit Targets: TP1: 1.6309 TP2: 1.6417 TP3: 1.6586 Risk Disclaimer This trading idea is strictly for educational and informational purposes only and does not constitute financial advice, investment advice, or trade recommendations. Foreign exchange (Forex) trading involves significant financial risk, and past performance is not indicative of future results. Always conduct your own research, manage risk appropriately, and consult with a licensed financial advisor before executing live market trades.