Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD uptrend stalled , progress needed soon to sustain gains

• EUR/AUD edged higher but gains were limited  on Thursday as uncertainties over monetary policy and U.S. tariff plans, kept markets on edge.

• Investors were also on edge about how U.S. President-elect Donald Trump might steer foreign and economic policy, especially with talks of a potential national economic emergency to justify universal tariffs.
.
• On the data front, Eurozone retail sales rose less than expected in November, highlighting weak consumption and adding to a streak of disappointing data.

•  Immediate resistance is located at 1.6743 ( 23.6%fib), any close above will push the pair towards 1.6785(23.6%fib)

• Strong support is seen at 1.6602(38.2 %fib ) and break below could take the pair towards 1.6489(50 %fib).

Recommendation:Be on side-lines 
 

  • Market Data
Close

Welcome to EconoTimes

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