FxWirePro: EUR/AUD gains some ground but outlook is bearish

• EUR/AUD edged higher on Thursday as bond-market concerns eased slightly, although persistent uncertainty over the global interest-rate outlook and the pair’s broader downtrend limited gains .

• French bonds remain under pressure as expectations of higher ECB rates and political uncertainty ahead of the 2027 election raise concerns over France’s fiscal outlook.

• WTI crude prices rose 3.4% to $91.25 a barrel as Hurricane Isaias disrupted US oil production, raising concerns over tighter supply. Higher oil prices could fuel inflationary pressures, complicate central bank policy and weigh on investor sentiment.

• Bank of France chief Emmanuel Moulin said on Wednesday that France was facing a serious economic situation amid bond-market pressure, but stressed that the country did not need support from the European Central Bank.

• Immediate resistance is located at 1.6132 (38.2%fib), any close above will push the pair towards 1.6168(SMA 20).

• Immediate support is seen at 1.6057(23.6%fib) and break below could take the pair towards 1.6016(Lower BB)
    
Recommendation: Good to sell around 1.6120, with stop loss of 1.6200 and target price of 1.6060