EUR AUD

EURAUD Currency pair flag

Latest EUR AUD Analysis and Forecasts

AUD Crosses at Key Levels – AUD Chart Pack

In this special publication, we go through a number of AUD/X charts & setups that have caught our attention. We find the AUD at critical areas, which could dictate the directional bias of the AUDTWI in the 2H 2019.

Across our momentum breadth studies for 19 AUD/X pairs:

  • RSI Breadth – 68% bullish.

However, divergence from another key breadth measure underpins the overall negativity.

  • MACD Breadth – 78% Bearish.
AUDJPY 1d Chart

AUDJPY: Risk Barometer AUDJPY retraces of lows after entering a key rejection area. Underlying fundamental themes keep AUDJPY negative. Rate now trading at a key resistance zone at c.76.06. Long-term bias persists to the downside.

Bulls need to work extremely hard to change the technical outlook for the pair. Key topside levels may offer bears some compounding opportunities. 50 EMA at 76.00 coupled with 50% fibo at 76.30 of the April-June weakening have been robust. Moreover, the RSI is failing to breach the 57 level.

Potential topside targets lie at:

  • 76.61 (Cloud base)
  • 77.34 (38.2% fib)
  • 78 (Cloud top)
  • 78.70 (Inverse H&S MPO)

If a position is loaded on the breakout then a risk zone < 75.26 (61.8% fib) would be prudent.

AUDJPY 1d Chart 2

If a short position is established, then aim for shorts below the aforementioned risk zone.

EURAUD: Recent AUD strength clawing back some gains after selloff causes the pair to drop from 2019 highs into the cloud at 1.6068. Bearish themes exacerbated through bearish activity in the MACD. 50% fibo of the April-June rally defending gains for now at 1.6069. Risk > 1.6070 would be prudent for any shorts. Rate has potential for cloud base at 1.5971 or even 76.4% fib at 1.5869.

EURAUD 1d Chart

AUDCAD: Pair trades at a crucial level as AUD continues to underperform CAD. Solid long-term support comes in at 0.9113. Weekly insinuates a cautious tone as RSI diverges and ADX/DMI’s overstretched to the downside. 

AUDCAD 1d Chart

Daily AUDCAD shines a little extra light on key levels. Psychological level 0.92 is stalling bulls from advancing. In addition, 21 EMA lies at this key price providing more problems for bulls. A violation of this level could deepen topside pressures.

A break below 0.9113 would see a potential risk zone > 0.92.

AUDCAD 1d Chart 2

AUDCHF: Recent AUD strength against safe haven CHF at crucial potential turning point. 38.2% fibo @ 0.6949 of Apr-June selloff defending the downside. 50DMA sitting neighbouring @ 0.6957.  A break above may highlight a more risk-on tone in the FX space. A break above 38.2% could potentially see 0.7011 revisited. However, a rejection could see the pair trade lower targeting the 23.6% fibo at 0.6872. This would put risk levels > 0.6949.

AUDCHF 1d Chart

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Other major currency pairs


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EUR/AUD – Live and Historical Rates

Not considered a major pair, the EUR/AUD is the pairing of geographically very disparate currencies. Unlike the EUR, the AUD is generally considered a commodity currency which has followed the ups and downs of the US dollar more than the Euro.

The above chart illustrates the amount of AUD needed to purchase a EUR.

The EUR

The Euro is the official currency of the currency union known as the eurozone. The eurozone consists of 19 countries, and – though some of the 8 remaining EU countries are bound by treaty to join it – it isn’t likely to expand in the near future.

Obviously boosted by Germany’s massive economical output and trade surplus, the EUR is used by some 337 million Europeans. Unfortunately, due to economic disparities within the eurozone, the currency has been sailing troubled waters lately. Despite that, it is the world’s second largest reserve currency, as well as the second most traded currency behind the USD. The entity controlling the EUR is the ECB (European Central Bank).

The AUD

The Australian Dollar is a commodity currency with a unique exposure to the Asian markets. For that reason, it is a popular vehicle for Fx traders interested in diversification. Introduced in 1966, the AUD has been taken off the GBP peg in 1971. The financial authority controlling the AUD is the RBA (Reserve Bank of Australia). The Australian economy is based on the export of commodities, hence the “commodity currency” designation of the AUD.

EURAUD Analysis

While the Euro is a major currency and the Australian Dollar is among the most traded currencies as well, the pair isn’t considered  a major due to its low trading volumes. Given the stability of both currencies involved, the pair isn’t a popular one for carry trades either.

See more forex charts for the major currencies