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EUR/AUD creating a reversal on the longer term charts

FXStreet (Guatemala) - EUR/AUD is trading at 1.4267, up 0.13% on the day, having posted a daily high at 1.4273 and low at 1.4248.

The hourly FXStreet OB/OS Index is showing neutral conditions, alongside the FXStreet Trend Index which is slightly bearish. However, cumulative gains on the weekly chart are significant from a longer term perspective which may be pointing to a turn on the bear trend, and despite the recent decline, the pair is going to be supported by the pro carry trade environment on a dovish ECB. Analysts at TD Securities said to look for support on dips to 1.4200 for gains to push on towards 1.4575/00. Meanwhile, daily RSI is in neutral territory at 53.42.

EUR/AUD near term levels

With spot trading at 1.4269, we can see next resistance ahead at 1.4273, 1.4291 (Daily Classic PP), 1.4292 (Hourly 20 EMA), 1.4342 (Monthly High) and 1.4342 (Weekly High). Support below can be found at 1.4263 (Hourly 100 SMA), 1.4250, 1.4238 and 1.4197 (Daily Classic S1).

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