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FxWirePro: EUR/AUD under pressure after early buying dries up

Thursday, December 28, 2023 4:52 PM UTC

• EUR/AUD reversed course from early gains on Thursday as investors booked profits just ahead of year-end.

• Pair traded in 1.6173/1.6309 range and was last trading at 1.6184 down 0.22 percent At (GMT 16:48).

• Technical signals are bearish as RSI is at 38, daily momentum studies 5,9 and 10 DMAs are trending down.

• Immediate resistance is located at 1.6296(38.2%fib), any close above will push the pair towards 1.6275 (Dec 21st high).

• Strong support is seen at 1.6173(23.6%fib ) and break below could take the pair towards 1.6115( (Lower BB).

Recommendation: Good to sell around 1.6200, with stop loss of 1.6350 and target price of 1.6120

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FxWirePro: EUR/AUD under pressure after early buying dries up

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