• EUR/AUD dipped on Wednesday as downbeat economic data weighed on euro.
• Eurozone economic growth slowed further in the first quarter of 2026 as higher energy costs, weak industrial activity, and lingering geopolitical uncertainty continued weighing on momentum.
• According to Eurostat’s flash estimate, seasonally adjusted GDP rose just 0.1% qoq in the Eurozone, down from 0.2% growth in Q4 of 2025.
• The annual growth picture also weakened noticeably. Eurozone GDP growth slowed from 1.3% yoy to 0.8% yoy in Q1. EU-wide annual growth decelerated from 1.4% yoy to 1.0% yoy.
• Separate data showed,Eurozone industrial production increased 0.2% month-over-month in March 2026, after a downwardly revised 0.2% rise in February and below market expectations of 0.3%.
• Immediate resistance is located at 1.6230(May 13th high), any close above will push the pair towards 1.305(38.2%fib)
• Support is seen at 1.6097(23.6%fib) and break below could take the pair towards 1.6062Lower BB).
Recommendation: Good to sell around 1.6150, with stop loss of 1.6200 and target price of 1.6070
