EUR/AUD Recovery Takes Shape amid Failure to Test Monthly Low
EUR/AUD appears to have reversed ahead of the monthly low (1.6137) as it breaks out of the range bound price action carried over from last week.
EUR/AUD Rate Outlook
EUR/AUD trades to a fresh weekly high (1.6498) after bouncing along the 50-Day SMA (1.6320), and the exchange rate may track the positive slope in the moving average as it retraces the decline from the start of the month.
A above 1.6590 (78.6% Fibonacci expansion) may push EUR/AUD towards the monthly high (1.6671), with a break/close above 1.6680 (100% Fibonacci extension) raising the scope for a run at the yearly high (1.6786).
Nevertheless, failure to push above 1.6590 (78.6% Fibonacci expansion) may keep EUR/USD within the monthly range, with a move below the 1.6300 (61.8% Fibonacci extension) to 1.6380 (78.6% Fibonacci extension) region bringing the monthly low (1.6137) back on the radar.
EUR/AUD Rate Outlook
EUR/AUD trades to a fresh weekly high (1.6498) after bouncing along the 50-Day SMA (1.6320), and the exchange rate may track the positive slope in the moving average as it retraces the decline from the start of the month.
A above 1.6590 (78.6% Fibonacci expansion) may push EUR/AUD towards the monthly high (1.6671), with a break/close above 1.6680 (100% Fibonacci extension) raising the scope for a run at the yearly high (1.6786).
Nevertheless, failure to push above 1.6590 (78.6% Fibonacci expansion) may keep EUR/USD within the monthly range, with a move below the 1.6300 (61.8% Fibonacci extension) to 1.6380 (78.6% Fibonacci extension) region bringing the monthly low (1.6137) back on the radar.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.