Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD reverses recent rally, bias back to downside

• EUR/AUD declined on Friday as buoyed risk sentiment boosted Australian dollar.

•  The euro   erased Thursday’s gains against the Asutralian dollardollar , the pair was last down  at 0.66% at  1.6909  

•  EUR/AUD drops swiftly from 1.5688 to 1.5562. Break lower 50%fib risks run towards1.5450 level .

• From a technical viewpoint, the moving averages are pointing downwards, while the RSI  is strongly bearish at 47.85.

•  Immediate resistance is located at 1.5710 ( 38.2%fib), any close above will push the pair towards 1.5803 (Higher BB).

• mmediate support is seen at 1.5545(50%fib) and break below could take the pair towards 1.5485 (Jan  12th low).

Recommendation: Good to sell   around 1.5580, with stop loss of1.5680and target price of 1.5500
 

  • Market Data
Close

Welcome to EconoTimes

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