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EUR/AUD cumulative weekly gains stacking up

FXStreet (Guatemala) - EUR/AUD is trading at 1.4476, down -0.04% on the day, having posted a daily high at 1.4488 and low at 1.4469.

EUR/AUD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. Analysts at TD Securities noted that cumulative gains are huge on the weekly chart and point to a significant turn in the bear trend via a bullish key week reversal signal. “Look for support from here on dips to the 1.42 area and for gains to push on towards 1.4575/00”.

EUR/AUD near term levels

Spot is presently trading at 1.4477, and next resistance can be seen at 1.4488, 1.4509 (Daily Classic R2) and 1.4551 (Weekly Classic R2). Next support to the downside can be found at 1.4469, 1.4461 (Weekly Classic R1), 1.4456 (Hourly 20 EMA), 1.4440 (Daily Classic R1) and 1.4438 (Daily 100 SMA).

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