Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD downside pressure builds, key support levels in focus

• EUR/AUD  dipped on Wednesday as  Australian dollar was supported by gains in key commodities  prices and  rise in healthcare and technology stocks.

• Australia's largest private hospital operator, Ramsay Health Care , soared as much as 29.8%, after receiving a A$20.05 billion ($14.83 billion) takeover bid from a consortium led by KKR.

• EUR/ AUD  fell to  1.4552 close to the 23.6% fib. A break under 23.6% fib would unmask 1.4400 level in the short term.

• Technical signals are bearish as RSI is at 40, daily momentum studies  5, 9 and 10 DMAs are trending down. 

• Strong resistance is located at 1.4622(14DMA), any close above will push the pair towards 1.4776 (38.2%fib)

• Immediate support is   at 1.4489 (23.6% fib)   and break below could take the pair towards 1.4412 (Lower BB).

Recommendation: Good to sell around 1.4560 with stop loss of 1.4650 and target price of 1.4470
 

  • Market Data
Close

Welcome to EconoTimes

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