EURAUD

(Last Updated October 19, 2020)

Welcome to the news page for EURAUD (EURAUD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

If we observe the 90 and 30 day timeframes, we see an uptrend in place for EURAUD.

EURAUD Moving Averages

The moving averages on EURAUD summarize its price action in an interesting way. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 100 are bullish, implying a upward trend, aside from a fall about 3 months prior.

The chart below illustrates.

As for assets in the Forex asset class EURAUD has been correlated to over the past week, it has demonstrated the strongest correlation with AUDCHF. EURAUD has been most correlated with AUDCHF over the past 14 days also, so this may be a recurring pattern. Alternatively, the asset least correlated with EURAUD over the past week has been EURNZD, but over the past two weeks, EURSEK has been the asset least correlated with EURAUD. The chart below illustrates EURAUD against its least correlated assets.

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The View From the Weekly Timeframe

At the time of this writing, EURAUD’s rate is up 0.021 (1.28%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Regarding moving averages, it should first be noted that price has crossed the 20 week moving average, resulting in them with price now being above it. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows EURAUD’s price action over the past year.

EURAUD: The Monthly View

Clearest trend on the monthly is apparent at the 60 month timeframe.