Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

Google Add as a preferred source on Google

FxWirePro: EUR/AUD outlook weaker on renewed downside pressure

• EUR/AUD dipped on Friday  as  broader risk-on environment and higher commodities  support the Aussie..

• Gold prices rallied against a softer dollar and the U.S. Treasury's bond buyback move. Spot gold added 1.4%, while silver was up 1.6% .

• Oil prices were headed for second-straight weekly gains as theU.S. ramped up pressure on Iran. Brent crude futures added 0.1%, while WTI crude gained 0.2%.

• Meanwhile, money markets are bracing for an increasingly hawkish European Central Bank, with the stalemate between U.S. and Iran in the Middle East complicating ⁠outlook for inflation..

•   Immediate resistance is located at 1.6392(38.2%fib), any close above will push the pair towards 1.6480(Higher BB)

• Support is seen at 1.6237(Lower BB)and break below could take the pair towards 1.6150(23.65fib)

Recommendation: Good to sell around 1.6300 , with stop loss of 1.6460 and target price of 1.6220
 

  • Market Data
Close

Welcome to EconoTimes

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