EURAUD Chart Technical Outlook develops a head and shoulders pattern, 1.6160 is a pivot level
EUR/AUD builds a bullish Head and Shoulders pattern. A break above 1.6160 opens the door toward the resistance zone of 1.6210-60, the 50% and 61.8% Fib levels. The bullish divergence from RSI in the 4H chart can support prices. Supports are located at 1.6080-30.
EUR advances on French parliament elections and the far-right not achieving the expected majority. AUD is not a weak counter-currency. Therefore, the upward move can be choppy.
