Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR /AUD strongly bearish despite upside attempts

• EUR /AUD initially gained but gave up ground  on Friday after the release of the US jobs report.
 
• Nonfarm payrolls increased by 303,000 jobs last month, the Labor Department said in its closely watched employment report on Friday.

• The pair hit daily low at 1.6496 and was last trading at 1.6461.

• Technical signals are bearish as RSI is   at 40 daily momentum studies    9, 11 and 21 DMAs are trending down. 

• Immediate resistance is located at 1.6496 (50% fib), any close above will push the pair towards 1.6518  (11DMA).

• Immediate support is seen at1.6412 (38.2%fib) and break below could take the pair towards 1.6318(Jan 29th low).

Recommendation: Good to sell around 1.6470, with stop loss of 1.6560 and target price of 1.6400
 

  • Market Data
Close

Welcome to EconoTimes

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