Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Google Add as a preferred source on Google

FxWirePro: EUR/ AUD inches lower, set to stay on back foot

•  EUR/ AUD dipped  on Monday as the pair faced l pressure as equities turned lower and oil prices moved higher amid persistent U.S.-Iran tensions.

• Rising energy prices remain a risk for the eurozone because of the region’s exposure to imported energy costs.

•Meanwhile,  investors have shifted their focus back to macroeconomic and geopolitical developments for the next market ​catalyst.

• EUR/ AUD has seen range 1.6336-1.6259 the pair is likely to be fall below 1.6200 level.

• Immediate resistance is located at 1.6348(SMA20), any close above will push the pair towards 1.6373(50%fib).

• Immediate support is seen at 1.6255(38.2% fib) and break below could take the pair towards 1.6218(Lower BB).

Recommendation: Good to sell  round 1.6300, with stop loss of 1.6400 and target price of 1.6250

  • Market Data
Close

Welcome to EconoTimes

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