Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Google Add as a preferred source on Google

FxWirePro: EUR/AUD gains modestly ahead of ECB policy decision

• EUR/AUD edged higher on Wednesday  as investors positioned ahead of the European Central Bank's policy decision.

• The European Central Bank is expected to hike interest rates on Thursday for the second time this year, with policymakers looking to prevent the Iran war from triggering a broader energy-led inflation surge.

• The ECB is also expected to raise its growth forecasts for this year and potentially 2027 on Thursday, reflecting the resilience of the euro zone economy.

• The ECB is expected to lift its policy rate to 2.50% from 2.25% on Thursday, with economists anticipating a warning that additional hikes could follow if inflation pressures persist.

• Immediate resistance is located at 1.6197(38.2%fib), any close above will push the pair towards 1.6234(SMA 20).

• Immediate support is seen at 1.6075(23.6%fib) and break below could take the pair towards 1.6040(Lower BB)
    
Recommendation: Good to sell around 1.6160, with stop loss of 1.6280 and target price of 1.6100
 

  • Market Data
Close

Welcome to EconoTimes

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