Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro : EUR/AUD extends gains, faces 23.6% fib resistance

• EUR/AUD strengthened on Friday as  mixed signals from US  Jobs report lifted  the pair higher.

• U.S. jobs data on Friday sent mixed signals as it showed strong job creation but also an easing of wage growth.

• EUR/AUD  is now on course to register   close above the 1.6184 (23.6% fib), break above will  likely see a much bigger rise.

• Technical signals show the pair could lose more ground in the short-term as RSI is at 61 bullish, daily momentum studies 5, 10 and 21 DMAs are trending  up. 

• Immediate resistance is located at 1.6184 (23.6% fib),any close above will push the pair towards 1.6221(Higher BB ).

• Immediate support is seen at 1.6009 (38.2% fib) and break below could take the pair towards 1.5944 (9th March low ).

Recommendation: Good to buy 1.6140 with stop loss of 1. 1.6080  and target price of 1.6200

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.