Technicals

Add as a preferred source on Google

FxWirePro:EUR/AUD weighed down as investors seek out riskier assets

•EUR/AUD declined on Monday as higher oil prices and increased risk appetite boosted demand for Australian dollar. •Risk appetite got a boost on plans by U.S. President Joe Biden and Russia's Vladimir Putin to hold a sum…

1 min read
FxWirePro:EUR/AUD weighed down as investors seek out riskier assets
Image from the original EconoTimes article

Read the original article

•EUR/AUD declined on Monday as higher oil prices and increased risk appetite  boosted demand for Australian dollar.

•Risk appetite got a boost on plans by U.S. President Joe Biden and Russia's Vladimir Putin to hold a summit on the Ukraine crisis.

•Technical signals are bearish as RSI is heading down  at 43, daily momentum studies  5, 9 and 11 DMAs are trending down. 

•Immediate resistance is located at 1.5766 ( 5DMA), any close above will push the pair towards 1.5825(50%fib)

•Support is seen at 1.5712(38.2%fib ) and break below could take the pair towards 1.5661(Lower BB).

Recommendation: Good to sell on rally around 1.5750, with stop loss of 1.57860 and target price of 1.5690.

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560