Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/AUD flips from resistance to support level

• EUR/AUD declined on Wednesday as  extended lockdowns in Europe to combat the spread of COVID-19 and worries about the pace the rollout of vaccines in weighed  on euro

• At GMT 17:20, the pair was trading down 0.65 percent  at $1.5656.

• Technical signals are bearish as RSI is heading down  at 36, daily momentum studies  5, 9 and 1 DMAs are trending down. 

• On the upside, Immediate resistance is located at 1.5700( 38.2%fib), any close above will push the pair towards 1.5774(38.2%fib)

• On the downside, support is seen at 1.5602 (23.6%fib ) and break below could take the pair towards 1.5514(Lower BB).

Recommendation: Good to sell   around 1.5660, with stop loss of 1.5800 and target price of 1.5550.
 

  • Market Data
Close

Welcome to EconoTimes

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