Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/ AUD extends gains, faces 23.6%fib resistance

• EUR/ AUD strengthened on Monday  as month-end flows and narrowing of eurozone and U.S. interest rate differentials   supported  the pair .

• EUR/ AUD is now on course to register a close above the 23.6%fib resistance, if broken pair will rise towards 1.5850 Level.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 63,while moving averages and MACD are trending higher.

• Immediate resistance is located at 1.5761(23.6%fib), any close above will push the pair towards 1.5783 (Higher BB).

• Immediate support is seen at 1.5728 (Dec 22nd low) and break below could take the pair towards 15662(38.2%fib).

Recommendation: Good to buy around 1.5730, with stop loss of 1.5650 and target price of 1.5810

  • Market Data
Close

Welcome to EconoTimes

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