Automatic wave scan: as of 21 Oct 2026, the automatic daily count for EUR/AUD is Wave 2 pullback in an uptrend with a bullish bias. The count stays valid while price holds 1.5956.
Current EUR/AUD wave count
Automatic wave scan Updated daily from the latest daily close (21 Oct 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 2, a pullback of a five wave advance that began at 1.5956 on 13 Oct 2026. Next levels to watch are 1.5900 and 1.6452. The count fails on a daily close below 1.5956.
Key levels
| Type | Levels |
|---|---|
| Resistance | 1.6262 · 1.6333 |
| Support | 1.5956 |
| Invalidation | 1.5956 |
What is EUR/AUD?
EUR/AUD pairs a large, stable currency bloc with a commodity linked currency. The pair tends to move with the gap between European and Australian growth and with the price of metals.
Its daily range is wider than EUR/USD, which gives larger wave swings but also requires wider stops.
What moves the EUR/AUD price?
- Risk sentiment: Risk-off periods usually lift EUR/AUD.
- Commodity prices: Strong iron ore and metal prices support the Aussie and push the pair lower.
- ECB and RBA policy: Rate expectations on both sides set the longer trend.
- China data: Chinese demand affects the Australian dollar.
How EUR/AUD moves in Elliott Wave terms
EUR/AUD often makes sharp impulsive rallies during market stress, followed by slow, overlapping declines. Those declines are often corrective, such as wedges or double threes.
The pair often reacts at the 61.8 percent retracement of the last major swing.
Tips for counting EUR/AUD waves
Watch global stock indices. A falling S&P 500 often lines up with a rising EUR/AUD wave.
EUR/AUD key facts
EUR/AUD Elliott Wave FAQ
What moves EUR/AUD?
Global risk sentiment, commodity prices and the gap between ECB and RBA rates.
Why does EUR/AUD rise in a crisis?
The Australian dollar is a risk currency and usually falls faster than the euro when markets are stressed.
Is EUR/AUD volatile?
It has a wider daily range than EUR/USD, so it needs wider stops.
Sources and further reading
- BIS Triennial Central Bank Survey of foreign exchange turnover (Bank for International Settlements)
- Monetary policy decisions (European Central Bank)
- Cash rate target (Reserve Bank of Australia)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
