Wednesday, 30 March 2016

EUR/AUD Technical Analysis for the day

Technical Analysis

EUR/AUD is having bearish secondary trend  on the charts and the pair is trading below the trend line in its hourly chart. In hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.5590 and support at the level of 1.5345. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

EUR/AUD Technical Analysis for the Day

Forex Indicators

MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.

Technical Chart

Trading Strategy 

EUR/AUD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.