• EUR/ AUD retreated on Friday as investors assessed Geopolitical uncertainty and digested euro zone GDP data.
• Shipping traffic through the Strait of Hormuz remained severely disrupted as fresh attacks and the prospect of an indefinite U.S. blockade raised concerns over regional energy supplies.
•Eurozone GDP growth remained at 0.4% in the second quarter of 2026, according to preliminary data released by Eurostat on July 30.
• EUR/ AUD has seen range 1.6357-1.6324 the pair is likely to be fall below 1.6300 level.
• Immediate resistance is located at 1.6351(SMA20), any close above will push the pair towards 1.6388(50%fib).
• Immediate support is seen at 1.6276(38.2% fib) and break below could take the pair towards 1.6246(Lower BB).
Recommendation: Good to sell round 1.6340, with stop loss of 1.6400 and target price of 1.6280
