Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/AUD holds above 1.5400 ahead of FOMC event

• EUR/AUD strengthened on Wednesday   as market participants awaited the outcome of a Federal Reserve meeting.

• EUR/AUD remains relatively bearish, having recent shallow pullbacks short-lived so far.

• EUR/AUD has traded a 90 pip range 1.5351-1.5441 on Wednesday.Calm precedes ahead of FOMC event at 1800 GMT.

• Technical signals are bearish as RSI is at 44, daily momentum studies  5and 9 DMAs are trending down. 

• Immediate resistance is located at 1.6441 ( 21 DMA), any close above will push the pair towards 1.5532 (38.2%fib)

• Support is seen at 1.5333(23.6%fib ) and break below could take the pair towards 1.5266 (Lower BB).

Recommendation: Good   sell   around 1.5460 with stop loss of 1.5530and target price of 1.5270
 

  • Market Data
Close

Welcome to EconoTimes

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