EUR/AUD: Upside channel seems to emerge on the weekly chart - Natixis

In view of Micaella Feldstein, Research Analyst at Natixis, upside parallels have emerged on the daily chart of EUR/AUD cross and an upside channel seems to emerge on the weekly chart.

Key Quotes

“Against this backdrop, dips towards a support at 1.4590 (daily parabolic) should be seen as corrective and we favor another leg higher to a resistance at 1.4902 (semi- annual Bollinger moving average).”

“The clearance of the latter would provide fresh bullish impetus to 1.4973 (daily Bollinger upper band) ahead of 1.5020 (50% Fibonacci retracement of the 1.6463-1.3622 bearish wave / august 15- feb 17) The supports lie at 1.46501.4672, at 1.4590, at 1.4436 and at 1.4292.”