EURAUD: Pullbacks cannot be ruled out towards 1.4910 - Natixis

As the daily stochastic is in overbought territory for EURAUD cross, pullbacks cannot be ruled out towards 1.4910 (daily parabolic) even to 1.4740 (9week moving average), suggests Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“However, this correction should be short lived, given that an ascending channel is forming in the daily chart and that an upward bubble is developing in the weekly chart.”

“Watch out for a new upward wave towards the resistance at 1.5235 (upper band of daily Bollinger) before the ones at 1.5340 (Fibonacci projection), at 1.5583 (upper band of monthly Bollinger) and at 1.5693 (monthly parabolic).”