Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD steadies around 1.7825,retains bid tone

• EUR/AUD steadied around 1.7825 on Monday as investors awaited key Australian  inflation CPI data this week.

• The Australian Bureau of Statistics will release its new, comprehensive monthly CPI figures on Wednesday, replacing the previous incomplete dataset.

• The upcoming CPI report is seen as pivotal for the RBA, following indications of a measured approach to rates.

• The RBA’s Assistant Governor noted that although economic growth remains steady, persistent inflation risks make a December rate cut unlikely..

•  Immediate resistance is located at 1.7906(Daily high), any close above will push the pair towards 1.7970 (Higher BB).

•  Support is seen at 1.7805  (50%fib) and break below could take the pair towards 1.7754 (SMA 20).

Recommendation: Good to buy around 1.7800, with stop loss of 1.7720  and target price of 1.7880

  • Market Data
Close

Welcome to EconoTimes

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