The Currency pair Euro Australian Dollar EUR/AUD is trading at 1.42324. The pair continues to move above the moving average with a period of 55, indicating a bullish trend for the Euro Australian dollar. At the moment, quotes of the pair test the upper boundary of the bands of the indicator Bollinger Bands. We should expect an attempt to reduce and test the average border of the bands near 1.41400, where again we should expect an attempt to continue growth with the first target near the level of 1.43300.
Bollinger Bands forecast EUR/AUD on March 28, 2017
The conservative shopping area is near the lower border of the Bollinger Bands indicator strip at 1.40500. Canceling the option of continuing the growth of the EUR/AUD pair will be the breakdown of the lower border area, as well as the moving average and the closing of the pair’s quotes below the area of 1.40100, which will indicate a change in the trend in favor of the bearish Euro against the Australian dollar. In the event of a breakdown of the upper boundary of the indicator bands, it is expected to accelerate the growth of the pair in the area above the level of 1.43300.
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