EUR/AUD is testing the upper boundary of a rising channel near 1.7710 after recent strength in the euro and caution around the Australian dollar ahead of Reserve Bank of Australia (RBA) policy commentary.
The technical set-up favours a push toward 1.7760-1.7780 (near the 78.6–100 % Fibonacci extensions), provided support holds around 1.7680–1.7690.
Key fundamentals include the RBA’s hold at 3.60 % and the eurozone PMI releases that may boost euro demand; the AUD remains pressured by weaker commodity triggers and a lack of fresh impetus.
The alternative scenario, if risk sentiment sours or the RBA signals easing later, would target a break below channel support toward 1.7640-1.7620.
Read full article here:
erranteacademy.com/euro-aussie-eyes-1-7780-resistance-amid-rba-pause-and-eurozone-pmi-lift/
The technical set-up favours a push toward 1.7760-1.7780 (near the 78.6–100 % Fibonacci extensions), provided support holds around 1.7680–1.7690.
Key fundamentals include the RBA’s hold at 3.60 % and the eurozone PMI releases that may boost euro demand; the AUD remains pressured by weaker commodity triggers and a lack of fresh impetus.
The alternative scenario, if risk sentiment sours or the RBA signals easing later, would target a break below channel support toward 1.7640-1.7620.
Read full article here:
erranteacademy.com/euro-aussie-eyes-1-7780-resistance-amid-rba-pause-and-eurozone-pmi-lift/
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إخلاء المسؤولية
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.