EURAUD

(Last Updated September 21, 2020)

Hello! This is the news page for 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 a downtrend in place for EURAUD.

EURAUD Moving Averages

EURAUD’s moving averages tell a multi-facted story about its trend. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, suggesting the trend is generally downward, aside from a jump about 6 months prior. Moreover, today we saw the 200 moving average turn bullish.

The chart below illustrates.

As for assets in the Forex asset class EURAUD has been correlated to over the past week, it has been most correlated with AUDCHF. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURAUD is AUDUSD. Alternatively, USDHKD has been the asset least correlated with EURAUD — but if we observe the prior two weeks, USDMXN has been the asset least correlated with EURAUD. See the chart below to observe the recent price action in EURAUD versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

At the time of this writing, EURAUD’s rate is down -0.0024 (-0.15%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. 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. EURAUD’s weekly price action over the past 52 weeks can be seen via the chart below.