EUR/AUD has ridden the strength in the greenback that had the Aussie running for cover with big losses and a euro that took full advantage. Analysts at TD Securities explained that cumulative gains are huge on the weekly chart and point to a significant turn in the bear trend via a bullish key week reversal signal. “Look for support from here on dips to the 1.42 area and for gains to push on towards 1.4575/00”.
Spot is presently trading at 1.4346, and next resistance can be seen at 1.4359, 1.4365, 1.4382, 1.4411 (Daily Classic R1) and 1.4449 (Daily 100 SMA). Support below can be found at 1.4335 1.4330 (Hourly 20 EMA) and 1.4330 (Daily Classic PP).
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