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EURAUD

XM Research

XM Research - 2 weeks agoBearish

EURAUD continues the strong negative tendency RSI and stochastic hold in bearish territories EURAUD is plunging towards a fresh one-year low of 1.6058, posting the fourth straight red day. The pair has been developing in a bearish tendency since August 2023 with the technical oscillators confirming this view. The RSI is crossing the 30 level to the downside, while the stochastic is holding in the oversold territory.
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XM Research - 4 months agoBullish

Technical Analysis – EURAUD flies to 3-month high

EURAUD penetrates the downtrend line RSI and stochastic suggest bearish correction EURAUD skyrocketed to a new three-month high of 1.6693 during yesterday’s session, penetrating the long-term descending trend line to the upside. Currently, the pair is weakening its momentum and something reflected in the technical oscillators as well. The RSI is pointing down above the 50 level, while the stochastic is holding above the 80 level, indicating an overstretched market.
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XM Research - 5 months agoBearish

EURAUD turns down from 1.6605 significant level 20- and 200-day SMAs golden cross remains intact RSI indicates downside moves again EURAUD is declining after aggressive bullish movement towards the long-term descending trend line near the 1.6605 resistance. The golden cross within the 20- and the 200-day simple moving averages (SMAs) is still in place; however, the technical oscillators are mixed.
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XM Research - 5 months agoBearish

EURAUD remains beneath downtrend line MACD and RSI show mixed signs EURAUD continues to rise above the 1.6320 support level, fighting with the short-term simple moving averages (SMAs) in the daily timeframe. The pair remains beneath the medium-term descending trend line with the MACD oscillator sliding beneath its trigger line above the zero level.
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XM Research - 6 months agoBullish

EURAUD punches through Ichimoku cloud to reach 2-month high Bullish bias remains strong but in danger of reversing EURAUD has been recovering sharply since the start of the year after tumbling to a seven-month low of 1.6127. The rebound gathered further strength this week as the price pierced above the Ichimoku cloud and briefly peaked at a two-month top of 1.6671 on Thursday.
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XM Research - 7 months agoBearish

EURAUD returns some of today’s losses Momentum is still bearish Strong resistance at 200-day SMA EURAUD tumbled to a new six-month low of 1.6207 earlier today but is now hovering above the 1.6260 support level, which seems to be a significant line for traders. According to the technical oscillators, the RSI indicator is pointing down in the bearish region, while the MACD is strengthening its negative momentum beneath its trigger and zero lines.
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XM Research - 8 months agoNeutral

Technical Analysis – EURAUD holds in sideways channel around 1.6700

EURAUD bounces off 20-day SMA Momentum indicators confirm the weak momentum EURAUD has been developing within a trading range of 1.6440 to 1.6845 since August 23 with the short-term simple moving averages (SMAs) acting as mid-levels. The technical oscillators are confirming the sideways move, as the MACD is flattening near its zero level and the RSI is ticking marginally up around the neutral threshold of 50. If buyers stay in play, the door will open for the tight zone of 1.6845 �
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XM Research - 8 months agoNeutral

EURUSD is higher again today, tests key descending trendline Convergence of simple moving averages (SMAs) points to an imminent move Momentum indicators are not extremely excited by the current rally EURAUD is moving higher again today, recording its fifth consecutive green candle after bouncing off the June 15, 2023 upward sloping trendline.
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XM Research - 9 months agoNeutral

EURAUD edges higher, prepares to test the 50-day SMA Downleg since mid-August high could have run its course The stochastic oscillator tentatively keeps the door open for another rally EURAUD is moving higher today, recording its fourth consecutive green candle and testing the resistance set by the 50-day simple moving average (SMA).
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XM Research - 11 months agoNeutral

EURAUD is moving sideways today as the bears are trying to find their footing following the recent upleg that allowed this pair to test the 2023 high at 1.6785. The long-term trend remains bullish as evident by the August 26, 2022 upward sloping trendline with a muted series of higher highs and higher lows still favouring the bulls at this stage. In the meantime, the current higher print in EURAUD is supported by a higher high recorded in the stochastic oscillator.
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XM Research - 1 year agoNeutral

EURAUD is edging lower today, bouncing off both the February 15, 2023 upward sloping trendline and the 1.6583 level. This is actually the first red candle after nine consecutive green days, as the bears are desperately looking to recover some of their recent losses and hoping to reestablish the pattern of lower highs and lower lows. Today’s price action, though, appears to counter the message coming from the momentum indicators. The Average Directional Movement Index (ADX) is pointing to the
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XM Research - 1 year agoNeutral

Technical Analysis – EURAUD getting closer to key area

EURAUD’s drop continues, cancelling out most of the upward move recorded since the March 6, 2023 bullish breakout. The pair is hovering just above the 1.5831 level as a pattern of lower higher and lower lows is in place. This raises the possibility of a small upleg from current levels, setting the scene for an even more aggressive sell-off afterwards.
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XM Research - 1 year ago

Could a strong inflation print reignite hawkish RBA expectations? – Forex News Preview

A week before the monthly RBA meeting and the aussie is trying to recover some of its recent losses. For this tendency to accelerate, it needs a good set of data releases this week, and predominantly a stronger monthly CPI. However, the overall environment is not supportive of hawkish market repricings, making the aussie bulls’ task even tougher.
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XM Research - 1 year agoBullish

EURAUD's aggressive upleg since the early March breakout fell short of retesting the October 20, 2020 high of 1.6826. However, the bulls should feel pretty confident considering the 15% rally they have staged since the August 2022 lows. They are actually preparing the ground for another move higher as they are currently trying to record a daily close above the August 20, 2021 high at 1.6435. Despite the fact that the Average Directional Movement Index (ADX) is pointing to an almost trendles
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XM Research - 1 year ago

Will Australia’s labor data tempt the RBA to hike again? – Forex News Preview

Despite the Reserve Bank of Australia (RBA) saying at its May meeting that more rate increases may be required, investors are nearly convinced that it will take no action at the June gathering, and evenly split on whether another 25bps may be warranted in August or September. So, to get a better sense of how the RBA may proceed henceforth, they may pay close attention to wage growth and employment data, due out on Wednesday and Thursday, respectively.
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XM Research - 1 year agoBullish

EURAUD is heading north as it still trading within an upward sloping channel in the short-term with strong support from the 20-day simple moving average (SMA) as well. The technical indicators are holding in the positive region, with the stochastic posting a bullish crossover within its %K and %D lines, suggesting more bullish movements. Should the pair manage to strengthen its positive momentum, the next resistance could come around the two-and-a-half-year high of 1.6790. A break above this
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XM Research - 1 year agoBullish

EURAUD is currently pointing upwards after the bounce off the 1.6260 support level and the 20-day simple moving average (SMA). The upside momentum appears to have more steam as prices have been attempting to run towards the two-and-half-year high of 1.6245. The bullish bias in the near term is also supported by the RSI, which has been hovering above the 50-neutral level in the past few days and the stochastic oscillator posted a positive cross within its %K and %D lines.
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XM Research - 1 year ago

Is the world ready for stronger Chinese GDP data? – Forex News Preview

On Tuesday, the market will have the opportunity to see the true pace of the much-talked Chinese reopening as we get a plethora of key Chinese economic data. While a stronger set of data releases will be positive for the global growth outlook, are central banks ready for news that could potentially mean that the acute inflationary pressures might be resurfacing?
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XM Research - 1 year agoBearish

Technical Analysis – EURAUD bulls eager for another move higher

EURAUD is just a tad below the August 20, 2021 high of 1.6435, almost completing a 20-month round trip. It has actually been a one-way street since the August 26, 2022 low of 1.4280 with the EUR bulls staging an impressive 15% rally in just eight months. The recent banking sector events, which did not involve euro area banks, did little to dent the EUR bulls’ appetite.
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XM Research - 1 year agoBullish

EURAUD has been moving sideways since the rebound off the 1.5860 support and the 20-day simple moving average (SMA), unable to surpass the one-and-a-half-year high of 1.6225. In the short-term, the market could maintain consolidation if the RSI keeps moving below the 70 level and the MACD holds near its trigger line in the positive region. Regarding the trend, this is likely to remain on the upside in the near-term as the 20-day SMA continues to gain strength above the 50-day SMA.
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