The EUR/AUD pair might fall in the medium term, according to our technical and fundamental analysis.
The downtrend price pattern is in the progress of getting completed both on the daily and weekly chart. The price might reach EMA 20, EMA 50, and EMA 100, on the weekly chart. The price might hit the three bottoms: 1.5908, 1.5690, and 1.5460.
The MACD is near the negative territory on the daily chart, and the possible next target is 1.5893, at Fibo 0.61.
The interest rate differential between the Euro Zone and Australia is higher, and this is a sign of a more decrease in EUR as against AUD.
The most important data from this week:
RBA rate decision (0.75% expectation); ( 1% previous)
Australia trade balance (6bl expectation); ( 7.2bl previous)
RBA Financial Stability Review