empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

21.07.201704:56 Forex Analysis & Reviews: Fundamental Analysis of EUR/AUD for July 21, 2017

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/AUD has shown a bullish impulsive momentum yesterday after the recent bearish trend which took the price towards the support level of 1.4500. Yesterday AUD Employment Change report was published with a decreased figure at 14.0k from the previous figure of 38.0k which was expected to be at 14.4k, Unemployment Rate was unchanged at 5.6% and NAB Quarterly Business Confidence was also published with an unchanged figure at 7. On the EUR side, yesterday Minimum Bid Rate was unchanged at 0.0% but the ECB Conference was hawkish in nature discussing Monetary policy, recent Interest Rate, the overall Economic Outlook, and Inflation. After the ECB press conference, the EUR has gained quite rapidly over AUD which is still intact and expected to continue further in the coming days. Today AUD RBA Assist Gov. Debelle and Bullock is going to speak about the future policy shifts and interest rates which are expected to be quite hawkish in nature. Despite the AUD economic events today EUR is expected to gain further against AUD in the short and medium term before proceeding further with the bearish trend in this pair.

Now let us look at the technical view, the price has recently shown impulsive bullish movement which may lead to further bullish pressure in this pair towards the resistance area of 1.4880-1.5100. As the price has bounced off the support level of 1.4500 yesterday there is a higher chance of price going for some bullish movement in the coming days. If we see any bullish rejection off the resistance area in the future then we will be looking forward more proceeding with the bearish trend with a target towards 1.4500 and further towards 1.3730.

Exchange Rates 21.07.2017 analysis

InstaForex Analyst
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off