EUR/AUD DIPS BELOW LOWER RANGE, BEARISH BIAS INCREASES... dari Tiyas

29 Jan 2023, 16:53 · Views 84

• EUR/AUD declined on Friday as attention turned to slew of central bank policy decisions , with the ECB all due to make rate decisions next week.

• The ECB is expected to hike by 50bp at its next two meetings, with a total of 143bp priced in by Q3, followed by a slower shift to rate cuts than the Fed.

• EUR/AUD is probing support zone 1.5252 (23.6%fib ) , Break lower risks run towards 1.5200 level in the short term.

•Technical signals are bearish as RSI is heading down at 35, daily momentum studies 5, 9 and 11 DMAs are trending down.

• Immediate resistance is located at 1.5326( Daily high), any close above will push the pair towards 1.5373( 9DMA)

• Support is seen at 1.5252 (23.6%fib ) and break below could take the pair towards 1.5214(Lower BB).

Recommendation: Good to sell around 1.5300, with stop loss of 1.5400 and target price of 1.5200

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