Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/AUD extends weakness below 200-DMA, bias lower

EUR/AUD chart on Trading View used for analysis

  • EUR/AUD trades in the narrow range, with session highs at 1.5830 and low at 1.5810.
     
  • The pair is extending consolidation below 200-DMA, bias is bearish.
     
  • Bounce off 200-DMA was capped at daily cloud which offers stiff resistance.
     
  • Technical studies are biased lower. We see strong support at 55-W EMA at 1.5758.
     
  • Break below 55-W EMA will confirm further bearishness. Scope for test of 1.5796 (110-W EMA).
     
  • On the flipside, retrace above 200-DMA and break above cloud base could negate near-term bearishness.

Support levels - 1.5758 (55-W EMA), 1.5721 (Jan 31 low), 1.5673 (Dec 12 low)

Resistance levels - 1.5849 (200-DMA), 1.5872 (5-DMA), 1.59

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

  • Market Data
Close

Welcome to EconoTimes

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