Ransquawk

During the last session of last week, the EURAUD broke an important resistance at 1.6190, where the maxima established earlier this year fell out. The course continued dynamic increases from the second half of August this year.

In turn, in the current week the price has risen even higher, and on Wednesday the first downward session took place. Yesterday during the day the rate also dropped and was under new support at 1.6190, however, on the closing of the session, the pair returned above this level.

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Bearing in mind the above, the price activity from yesterday’s session suggests maintaining new support, which additionally coincides with the 10-day EMA. It may turn out that the exchange rate will continue to increase towards the maximum from 2015 at 1.6562.

Alternatively, closing daily quotations under yesterday’s low will question the pro-growth attitude and reveal another support around 1.6050.

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