- EUR/AUD is taking the bids at a shade lower than the 1.7000 round-figure during early Asian sessions on Thursday.
- The EUR/AUD pair struggles with nearly two-week-old upward sloping resistance-line, at 1.6100 now, that portrays a ‘rising wedge’ formation on H4 chart ahead of monthly Australian retail sales and trade balance data.
- Not only 1.6100 but the 1.6150-60 area comprising December 31 low and January 10 high also becomes an important upside resistance for the buyers to watch.
- In case prices rally beyond 1.6160, 61.8% Fibonacci retracement level of 1.6320, followed by 1.6400 round-figure, can become bulls’ favorites.
- Meanwhile, early-month high near 1.6070 can act as immediate support for the quote, a break of which can reprint 1.6000 and 23.6% Fibonacci level of 1.5950 on the chart.
- However, sellers’ dominance past-1.5950 needs to slide beneath the 1.5920 support-line in order to validate the bearish formation and please sellers with 1.5800 and 1.5720 supports.
EUR/AUD 4-Hour chart
Additional important levels:
Overview:
Today Last Price: 1.6091
Today Daily change: 134 pips
Today Daily change %: 0.84%
Today Daily Open: 1.5957
Trends:
Daily SMA20: 1.5926
Daily SMA50: 1.5962
Daily SMA100: 1.5892
Daily SMA200: 1.5873
Levels:
Previous Daily High: 1.6039
Previous Daily Low: 1.5948
Previous Weekly High: 1.6074
Previous Weekly Low: 1.581
Previous Monthly High: 1.6061
Previous Monthly Low: 1.5728
Daily Fibonacci 38.2%: 1.5983
Daily Fibonacci 61.8%: 1.6004
Daily Pivot Point S1: 1.5924
Daily Pivot Point S2: 1.589
Daily Pivot Point S3: 1.5833
Daily Pivot Point R1: 1.6015
Daily Pivot Point R2: 1.6072
Daily Pivot Point R3: 1.6106
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