EURAUD - Bearish Bias
Updated
EURO - Weak Bearish
1️⃣ Both Manufacturing and Services PMIs in the Eurozone declined in September.
2️⃣ Political uncertainty in Germany could affect the value of the EUR.
AUD - Weak Bullish
1️⃣ The Prime Minister of New South Wales Australia, Gladys Berejiklian says that the reopening of the economy in the region could be implemented as early as 11 October, and its full reopening is seen on 1 December.
2️⃣ Risk-on sentiment can support high-beta currencies like AUD.
3️⃣ The recovery in iron ore prices benefits the AUD.
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Technical
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We are selling the EURAUD after it breaks the support zone.
1️⃣ Both Manufacturing and Services PMIs in the Eurozone declined in September.
2️⃣ Political uncertainty in Germany could affect the value of the EUR.
AUD - Weak Bullish
1️⃣ The Prime Minister of New South Wales Australia, Gladys Berejiklian says that the reopening of the economy in the region could be implemented as early as 11 October, and its full reopening is seen on 1 December.
2️⃣ Risk-on sentiment can support high-beta currencies like AUD.
3️⃣ The recovery in iron ore prices benefits the AUD.
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Technical
=====
We are selling the EURAUD after it breaks the support zone.
Trade active
Trade closed: stop reached
✅ TRADE HAS HIT BE+5 PIPS
AUD slipped amid risk-off tone.
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