EURAUD Chart Technical Outlook broad bias is bullish, as the ECB can be more hawkish than the RBA, which paused the tightening policy at the last meeting for the second time this year.
The pair corrected lower in the 1H chart at the 50% Fibo level of the previous rally and overlaps its daily ATR range. The support zone is between 1.6375 and 1.6415.
If today’s low of 1.6411 holds, it can resume higher to 1.6480 and then 1.6550, offering an ample risk-reward ratio.
