The common European currency continues its surge all across the boards. However, if in most cases it can be observed that the surge of the Euro will pause sooner or later, there are no such signs on the EUR/AUD currency pair. The currency pair is simultaneously trading in two ascending channel patterns. Its surge is only hindered from time to time by the Fibonacci retracement levels, which are measured by connecting the 2016 low and 2015 high levels. The currency pair is set to soon encounter the resistance of the 50.00% retracement. It is possible that the Fibo stops the surge and creates a short lived decline. On the other hand, if the retracement level is broken, the rate will have a free range to surge of almost 350 base points or 2.5%.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.5303 | Weekly R2 | MACD (12; 26; 9) | Buy | Buy | Buy | ||
| R3 | 1.5169 | Weekly R1 | RSI (14) | Neutral | Sell | Neutral | ||
| R2 | 1.5115 | 50.00% Fibo | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 1.5079 | Monthly R2 | ADX (14) | Neutral | Buy | Neutral | ||
| S1 | 1.4943/36 | Weekly PP; trend line | CCI (14) | Neutral | Sell | Sell | ||
| S2 | 1.4893 | 55-period SMA | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1.4819/04 | Monthly R1; weekly S1; 100-period SMA | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 1.4766 | 38.20% Fibo | SAR (0.02; 0.2) | Buy | Buy | Buy | ||
| Aggregate | ↗ | ↗ | ↗ |