Expected Scenarios for EUR/AUD Movement

The EUR/AUD pair continues to move sideways on the daily timeframe.

The pair has retested the demand zone,

 which represents the lower boundary of the sideways movement and is located at the 1.7554 level.

These current levels are considered very important for the pair.

The pair faces several strong scenarios, both upward and downward.

Expected Scenarios

Our first expected scenario is an upward move, which is contingent on:

A return and upward movement, and a close above the current demand zone with a daily candlestick

of clear momentum. In this case, we may see a return to the upward trend again

and a continuation of the sideways movement for the time being.

The second scenario is a continuation of the decline towards the next demand zones.

However, this is contingent on breaking the current demand zones and closing below them

with a daily candlestick, specifically a close below the 1.7462 level.

In any case, please be cautious while trading and enter with small contracts.