Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro:EUR/AUD idles around 1.6360 as market awaits knife edge RBA rate verdict

• EUR/AUD eased towards 1.6360 as but losses were limited as investors awaited Reserve Bank of Australia rate decision .

• The Reserve Bank of Australia will likely raise its interest rate by 25 basis points to 4.35% on Tuesday to tame stubbornly high inflation.

• EUR/AUD is trading in range between 1.6414 and 1.6326  as the pair is struggling  for direction.

• Immediate resistance is located at 1.6414 ( 5DMA), any close above will push the pair towards 1.6539 (23.6%fib).

• Immediate support is seen at 1.6326 (38.2%fib) and break below could take the pair towards 1.6252(July 27th low).

Recommendation: Be on sidelines.
 

  • Market Data
Close

Welcome to EconoTimes

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