EUR/AUD chart - Trading View
- EUR/AUD is trading 0.15% lower on the day at 1.5827 at 0640 GMT.
- The pair is consolidating break below 200-DMA and breach of 'Symmetric Triangle' pattern keep scope for downside.
- Focus now on German retail sales data for February scheduled for release at 07:00 GMT along with jobs data at 08:55 GMT for further impetus.
- Germany's retail sales is expected to show the private consumption dropped 0.9 percent month-on-month, following a 3.3 percent rise in January.
- An above-forecast number may see some gains around the shared currency, although the technical bias remains bearish.
- Immediate support lies at 61.8% Fib at 1.5808. Decisive breakout above 200-DMA negates bearish bias.
Support levels - 1.5808 (61.8% Fib), 1.5742 (Feb 21 low)
Resistance levels - 1.5848 (5-DMA), 1.5906 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
