FxWirePro: EUR/AUD faces major resistance at 200-DMA, further upside only on break above
Wednesday, November 9, 2016 7:26 AM UTC
- EUR/AUD spiked to hit fresh 4-week highs of 1.4881 as Trump-led risk aversion weighed on AUD.
- The pair finds major resistance at 1.4908 (200-DMA). Only break above could see further upside.
- Techs on weekly charts are slightly bullish. Close above weekly 20-MA at 1.4653 could see continuation of bullish bias.
- Major support levels - 1.4612 (50% Fib), 1.45 (38.2% Fib), 1.4480 (trendline), 1.4381 (20-DMA).
- Major resistance levels - 1.4726 (61.8% Fib), 1.4908 (200-DMA), 1.5096 (Sept 15 high).