Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro :EUR/AUD uptrend falters, 1.5610As key support

• EUR/AUD  rose higher initially on Wednesday  but gave up most of the ground as   worries that major economies will tip into recession attracted sellers

• EUR/ AUD approached to test resistance 1.5749 (23.6%  fib)  but retreated as   bulls lost strength.

• EUR/AUD drops below the 1.5632(38.2% fib), slide halts at the 1.5610(5DMA),break below will accelerate towards  1.5550 level.

• Immediate resistance is located at 1.5632(38.2% fib), any close above will push the pair towards 1.5748 (23.6% fib).

• Strong support is seen at 1.5610(5DMA) and break below could take the pair towards 1.5538(50% fib)

Recommendation: Good to sell around 1.5630, with stop loss of 1.5700 and target price of 1.5540

  • Market Data
Close

Welcome to EconoTimes

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