Dukascopy Bank Team
Dukascopy Bank SA
EUR/AUD 4H chart: Breaks one-month highs
The common European currency has surged by 1.61% against the Australian Dollar since April 1. The currency pair hit a one-month high during this week's trading sessions.
Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, the exchange rate could continue to edge higher during the following trading sessions.
However, a resistance level at 1.5679 could provide resistance for the EUR/AUD currency exchange rate in the shorter term.
EUR/CAD 4H chart: Bulls could prevail
The Eurozone single currency has surged by 1.90% against the Canadian Dollar since April 1. The currency pair breached the 1.5000 level during last week's trading sessions.
The EUR/CAD currency exchange rate is likely to make a brief retracement towards a support level at the 1.4800 area during the following trading sessions.
A potential upside reversal could occur from the support line at 1.4800 level during this week's trading sessions and could target the upper line of a descending channel pattern at 1.5184.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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