EURAUD Technical Outlook


The 8 March EURAUD Technical Outlook shows that the pair is declining in the overnight session, currently testing into the 1.5840 region on positive figures for Australia. What else is revealed?

8 March, GKFX – The Euro is declining against the Aussie in early Tokyo trading after a surprise upside beat to Aussie Trade Balance, coming in at A$1.05B surplus, a clear beat of the A$300M forecast compared to the previous A$1.35B deficit.

The EUR will be seeing the European Central Bank (ECB) Rate Decision is due at 12:45 GMT, but markets are currently expecting rates to remain on hold until May.

8 March EURAUD Technical Outlook

The pair is trading on the high end, with yesterday’s trade touching a two-year high, and H4 charts making higher lows after escaping from February’s consolidation range. Intraday support levels can be found at 1.5825 and 1.5715, with resistance at 1.5920 and 1.5975.

Disclaimer

This article 8 March EURAUD Technical Outlook was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.

If such information is acted upon by you then this should be solely at your discretion and GKFX will not be held accountable in any way.

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