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EUR/AUD ST: under pressure below 1.6975

2023-09-12
791

Our pivot point stands at 1.6975.

Our preference: under pressure below 1.6975.

Alternative scenario: the upside breakout of 1.6975, would call for 1.7262 and 1.7434.

Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.6815 and 1.6656).

Supports and resistances:

1.7434 **

1.7262 *

1.6975 **

1.6862

1.6647 last

1.6306

1.6136 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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