Technical Analysis – EURAUD surpasses 200-SMA after finding support at 1.5770
EURAUD retreated back to the 1.57 region after it found strong resistance on the almost 10-year high of 1.6658 but is currently challenging again the 23.6% Fibonacci level of the upward move from 1.3625 to 1.6658, which is around 1.5940. The bullish correction is confirmed by the technical indicators. The stochastic oscillator has steeply bounced back above its 20 oversold level, while the […]