Fundamental Analysis of EUR/AUD for May 18, 2017
May 18, 2017 6:32 amVideo
Latest News
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024. April 17, 2024
- Technical Analysis of Intraday Price Movement of Crude Oil Commodity Asset, Wednesday April 17, 2024. April 17, 2024
- Forecast for EUR/USD on April 17, 2024 April 17, 2024
- Forecast for GBP/USD on April 17, 2024 April 17, 2024
- Forecast for USD/JPY on April 17, 2024 April 17, 2024
- Outlook for EUR/USD on April 17. A boring Monday seamlessly transitioned into a boring Tuesday April 17, 2024
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
EUR/AUD has been recently going through a non-volatile bullish trend since the bounce from 1.37. Recently, EUR has been quite stronger than AUD till today when Australia released some positive economic reports which enabled AUD to gain ground. Today, Australia presented Employment Change report which showed a notable increase of 37.4k which was expected to be at 4.5k. As a result, Unemployment Rate was also declined to 5.7% from 5.9% previously. On the EUR side today, ECB President Draghi is going to speak about Short-Term Interest Rates and future monetary policies. During the event, the pair is expected to trade with higher volatility today. Currently, AUD is dominating over EUR. If Draghi’s speech goes bearish for EUR today, AUD is likely to extend its gains against EUR in the coming days.
Now let us look at the technical chart. The price is currently showing some bearish rejection in a non-volatile bullish trend in light of the positive reports published in Australia today. Currently, the price is heading towards the support level of 1.4880. The bullish trend is still strong, so if the price rejects off the level, then price is expected to show some bullish move towards 1.5100 resistance level. On the other hand, in the context of AUD current strength, if the price breaks below 1.4880 with a daily close, it would be a good decision to sell with a target towards 1.4600.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: