Technical Analysis – EURAUD getting closer to key area
The recent price action continues to enjoy the support of the momentum indicators. The Average Directional Movement Index (ADX) is pointing to a decent bearish trend, but it appears to be very close to its peak. In addition, the stochastic oscillator has returned to its oversold area, where it can stay there for a while before signaling the next bullish move.
Should the bulls decide to stage a small recovery, they would try to break the 100-day simple moving average (SMA) at 1.6058. The path then becomes trickier at the busy 1.6250-1.6323 area. This range has repeatedly proved its importance and it is currently defined by the February 11, 2016 high and the 50-day simple moving average (SMA).
On the other hand, the bears appear determined for a move towards the 1.5612-1.5741 range where the upper boundary of the October 2022-March 2023 rectangle resides. However, they firstly have to overcome the support set by the January 24, 2014 high at 1.5831. Even lower, the 1.5357-1.5465 area could prove tougher to crack.
To sum up, EURAUD bears are finally staging their comeback, but their true determination is yet to be put to the test.免责声明: XM Group仅提供在线交易平台的执行服务和访问权限,并允许个人查看和/或使用网站或网站所提供的内容,但无意进行任何更改或扩展,也不会更改或扩展其服务和访问权限。所有访问和使用权限,将受下列条款与条例约束:(i) 条款与条例;(ii) 风险提示;以及(iii) 完整免责声明。请注意,网站所提供的所有讯息,仅限一般资讯用途。此外,XM所有在线交易平台的内容并不构成,也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
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