EURAUD London briefing — 2026-08-05

BIAS BEARISH. H4 and H1 EMAs aligned downward; RSI neutral (46.77) lacks conviction, but D1 structure remains bullish—conflicting timeframes create caution, yet intraday momentum favors sellers. KEY LEVELS R: 1.64, 1.645, 1.65037 | S: 1.635, 1.63, 1.6236 NEWS 🟡 HCOB Composite PMI (EUR) — Wed 08:00 UTC 🟡 Producer Price Index MoM (EUR) — Wed 09:00 UTC SESSION OUTLOOK London open faces PMI data; softer eurozone data could accelerate the bearish H4 structure. Watch 1.64 resistance; breach above invalidates the intraday bias.

Key Levels

R: 1.64000 · 1.64500 · 1.65037

S: 1.63500 · 1.63000 · 1.62360