EUR/JPY: 123.70 awaits
EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
EUR/AUD is at a major resistance
Information is not investment advice
Check the chart of EUR/AUD. The pair has reached the 50% Fibo retracement of the 2008-2012 decline (!). In previous years, this level has always held buyers back.
The D1 chart shows that the current high is not supported by oscillators (i.e. there’s a bearish divergence). In addition, the euro area will release industrial production today and the figures are expected to be bad. All of this makes us assume that EUR/AUD will correct down.
Elizabeth Belugina
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EUR/USD has violated the first resistance trendline area 1.1680
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