EURAUD London briefing — 2026-10-05

BIAS BEARISH. H4 and H1 EMAs aligned downtrend, RSI deeply oversold at 29.81, H4 and H1 fair-value gaps all pointing lower. KEY LEVELS R: 1.61, 1.615, 1.6335 | S: 1.60794, 1.605, 1.6 NEWS 🟡 ECB Nagel speech (07:45 UTC) 🟡 ECB Lane speech (08:00 UTC) 🟡 HCOB Composite PMI (08:00 UTC) SESSION OUTLOOK ECB speakers risk volatility into oversold conditions. Watch for rebound rejection at resistance or continuation break below support into London afternoon.

Key Levels

R: 1.61000 · 1.61500 · 1.63350

S: 1.60794 · 1.60500 · 1.60000