Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD bullish outlook with scope to target 1.6700 level

• EUR/AUD  rose on Tuesday as euro firmed on tariff concerns and speculation about a possible Ukraine peace deal.

• The U.S. and Ukraine have finalized terms for a minerals deal, which is key to Kyiv's strategy of securing U.S. backing as President Trump looks to swiftly end the war with Russia.

• The deal comes after a tense exchange between Ukrainian President Zelensky and Trump, who recently called Zelensky an unpopular "dictator" and urged him to secure a quick peace deal or risk losing his country.

• On the data front, Germany's economy contracted by 0.2% in the last quarter of 2024 compared to the previous quarter, the statistics office confirmed on Tuesday.

• Immediate resistance is located at 1.6627(38.2%fib), any close above will push the pair towards 1.6694(Higher BB)

• Support is seen at 1.6505 (38.2% fib) and break below could take the pair towards 1.6386(50% fib).

  Recommendation: Good to buy around 1.6550 with stop loss of 1.6450 and target price of 1.6700
 

  • Market Data
Close

Welcome to EconoTimes

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