The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
EUR/AUD is testing lower levels
2019-11-11 • Updated
Trade idea
SELL 1.5780; TP1 1.5730; TP2 1.5660; SL 1.5795
EUR/AUD rose to the 50-week MA around 1.5855 (weekly pivot) but then was rejected down. The pair’s testing support at 1.5780 (last week’s low). A decline below this level will open the way down to 1.5725 and potentially 1.5650. A return above 1.5800 will let the pair recover to 1.5850.
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