EUR USD long Target This is the Forex quote for the Euro versus the Australian Dollar. In this quote, the value of one Euro ('base currency') is quoted in terms of the Australian Dollar ('counter currency'). EUR/AUD reached its lows in the midst of the European sovereign debt crisis in 2012, when it hit A$1.1619. Since mid-July 2012, the pair has recovered mainly due to the European Central Bank's policy of Outright Monetary Transactions (OMT), the 'whatever it takes' measure that ECB President Draghi threatened in August 2012.
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
The Relative Strength Index (RSI) indicator on the 4-hour chart recovered toward 50, reflecting a loss of bearish momentum. On the upside, 1.0700 (50-period Simple Moving Average (SMA), static level) aligns as first resistance before 1.0730 (static level) and 1.0750 (100-period SMA).
Confirm long Target
