
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
EUR/AUD has formed a symmetrical pattern. Thus, we should wait for the breakout. The upper line of the triangle coincides with the 50-day moving average of 1.5550, making it harder to break. If it manages to cross it, the way up to the recent highs of 1.5600 and 1.5660 will be open. In a more probable scenario, if it reverses and drops below the lower line of 1.5450, it may fall further to the recent lows of 1.5370 and 1.5260.
EUR/USD is moving down. It has failed to break the trend line so far at 1.1700, but if it does, the way down to November’s low of 1.1630 will be open. On the flip side, if it jumps above the high of March 26 at 1.1790, it may rise to the 200-period moving average of 1.1870.
USD/JPY is moving sideways just below 111.00. If it finally manages to break through this resistance level, the way up to the next round number of 111.50 will be clear. In the opposite scenario, if it drops below yesterday’s low of 110.50, it may fall to the next support of 110.25.
GBP/USD is trading inside the descending channel. If it manages to break the support level of 1.3750, it may fall to yesterday’s low of 1.3715. In the opposite scenario, the move above yesterday’s high of 1.3800 will push the pair higher to the 100-period moving average of 1.3840.
AUD/USD sharply dropped. If it crosses the lows of late December at 0.7510, the way down to the next support level of 0.7400 will be open. On the flip side, if it jumps above yesterday’s high of 0.7640, the way up to the high of March 22 at 0.7750 will be open.
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
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Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
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In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!
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