Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook

• EUR/AUD eased towards  1.6888  on Wednesday as   Australian dollar was booted by aided   iron ore gains.

• Australian dollar was s also supported by China's moves to stabilise the yuan.

• At GMT 15:34, the pair was trading down 0.58 percent 1.6883 ,Lowest   since  16th  Aug  .

•From a technical viewpoint, RSI  is strongly bullish at 61, daily momentum studies, 5, 10 and 21 daily  MAs all climb.

•Immediate resistance is located at 1.6727(Daily high), any close above will push the pair towards 1.6615(38.2% fib).

•Immediate support is seen at 1.6843 (14DMA) and break below could take the pair towards 1.6822(38.2%fib).

Recommendation: Good to buy on dips around 1.6860, with stop loss of 1.6700 and target price of 1.6950
 

  • Market Data
Close

Welcome to EconoTimes

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