Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD consolidating below key resistance awaiting fresh catalyst

• EUR/AUD strengthened   on Wednesday but upside was limited as investors awaited Thursday’s ECB meeting.

• The pair is currently approaching resistance at 1.6081 (38.2% fib). Failure to break 1.6081 would suggest waning momentum.

• Technical signals are bearish as RSI is at 48, daily momentum studies  5, 9 and 10 DMAs are trending down.

• Immediate resistance is located at 1.6081 (38.2% fib), any close above will push the pair towards 1.6184 (50 % fib)

•  Support is seen at 1.5964 (23.6% fib) and break below could take the pair towards 1.5884 (Lower BB).

Recommendation: Good to sell   around 1.6050, with stop loss of 1.6150 and target price of 1.5970.

  • Market Data
Close

Welcome to EconoTimes

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