EUR/AUD: Euro looks for support at key Fibonacci retracement level
|EUR/AUD: Euro looks for support at key Fibonacci retracement level
The Euro has been trading around a key Fibonacci retracement level at1.63620 for the past 24 hours and continues to hold its position as it attempts to make a reversal to the upside. Euro has also developed a price channel to the upside since bouncing back at around 1.63135 support on Monday trades.
The pair needs to remain within the price channel as indicated on the chart above to head back up. Price targets are estimated at 1.64345, 1.65095, and 1.66020
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.