Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/AUD falls below 1.5500, bears keep the advantage

• EUR/AUD dipped on Friday as worries about the European Union's slow vaccination rollout weighed on euro.

• EUR/AUD hit daily low at 1.5446, before recovering  slightly trade at 1.5469. Odds are now  growing for a deeper fall towards 1.5350.

• Technical signals  favours  bearish sentiment, RSI is at 48 and pair trades below 11  & 21-DMAs.

•  Immediate resistance is located at 1.5495 ( 23.6%fib), any close above will push the pair towards 1.5577(Higher BB).

• Strong support is seen at 1.5419 (14DMA) and break below could take the pair towards 1.5315 (Lower BB).
Recommendation: Good to sell around 1.5460, with stop loss of 1.5550 and target price of 1.5350.

  • Market Data
Close

Welcome to EconoTimes

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