The Forex market is traded daily, with over 1.6 trillion trades recorder in a day. Let us take a look at how EUR/USD, and AUD/USD performed last week.

• Euro loses against other major pairs

• What's next for EUR/USD?

• RBA increases its benchmark cash rate by 25 basis points

• AUD hikes as the central bank tightens its doors

• What's next for AUD/USD?

EUR/USD

Prev. Close: 1.0713

Bid: 1.0695
Day's range: 1.0667 - 1.0732
Open: 1.0713
Ask: 1.0696
52 week range: 0.9535 - 1.1096
1-Year change: 0.02%
EUR/USD shows a potential rebound today with US Dollar maintaining it's high ground.  
Last week Euro lost its standing against the major forex pairs. Last week had EUR/GBP trading as low as 1.0634. This low was last recorded in November/December 2022. However, the pair is still one of the most traded pairs in the forex market. EUR/USD closed with a sharp pull back on Friday.
Even with the fall of Euro inflation, nothing has changed from the European Central Bank (ECB). The probability of the central bank stopping the increase in rate this June is low, irrespective of the drop in inflation. 
One of the biggest risks this week is the Euro Area GDP Growth slated for release on the Thursday 8th June. With US being a service based economy, and with the constant crises surrounding inflation, allrneyes are in the news release. On the positive side, the news can lead to increase in rates, however, this can negatively impact the performance of EURUSD.

Technical Outlook

Judging from the can't above, EUR/USD was bearish, hitting the support level. The former support level was recorded atrn1.0700 in March. The daily timeframe showed price hovering around 1.0700, the volatility is caused by the US dollars and Fed rate increase.
Recording an all time low if 1.0634, EUR/USD has since rebounded. The forex pair recorded a temporary high of 1.0778. 
What's next for EUR/USD?
Analysts predict EUR/USD to be neutral this week. On the positive side, if prices cross above 1.0778, price will rebound from 1.0634. However, if price breaks 1.0634, a bearish trend will continue. If the 1.0515 support holds, price will increase above 0.9534, the bullish trend will be significant once it hits thern1.2348 price mark.
Longterm effect shows that a sustained break above 1.1134 will give rise to a bullish trend, and the new resistance target will be 1.2348.

AUD/USD

Prev. Close: 0.6618
Bid: 0.6676
Day's Range: 0.661-0.6685
Open: 0.6618
Ask: 0.6678
52 wk Range: 0.617-0.7247
1-Year Change: -8.15%
With RBA increasing its benchmark cash rate byrn25 basis points, traders are steady buying AUD today.
The Austrailian Dollar increased after the Reserve Bank of Australia (RBA) increased its increase rates. The longterm goal is to return inflation to it's target.
The RBA is expected to hold the benchmark atrn3.85%, but the recent increase in minimum wage almost affected it. However,  with the recent turn of events, the benchmark rate is predicted to hit 4.18% by September.
The Central bank issued a statement, stating the increase in interests rates is to provide greater stability for inflation. This is to help inflation return to it's target quickly. 

Technical Outlook

AUD/USD shows a price rebound after recording some losses, in the previous weeks. The pair increased above 0.6560, however, if price fails to break above 0.6805, a bearish trend will occur. On the upside, if price breaks above 0.6805, this means an increase in price towardsrn0.7160 (a high recorder in February).

What's next for AUD/USD?

Analysts predict that AUD/USD will remain on the bullish side, and the 0.6457 rebound keeps to increase. On the bearish side a price break of 0.6578 will lead to a bearish trade hitting the 0.6457 price mark.
For the long-term, the downtrend from 0.8006 is still ongoing, price will still retest 0.6169 price mark.  Price break below 0.6169 will confirm a downtrend.  
Currently trading bearish at 1.0692, at a -0.17. High recoded at 1.07334, low recorded at 1.06666.