News

TD trade of the week: Buy EUR/AUD

It’s having a good start

The weekly FX pick from TD Securities is to buy EUR/AUD. The pair is up 124 pips to day to 1.6367.

They target 1.6675 with a stop at 1.5890.

“With EUR/AUD now looking like it is starting to turn higher from its range base around 1.61, we thing the cross may be ready to return to the top of the channel near 1.67 in the days ahead. Here, we note the technical backdrop is also supportive. A move higher, we think, could see an acceleration to the upside,” TD writes.

For bank trade ideas, check out eFX Plus

Articles You May Like

Audio recap: Thinner trading conditions on MLK Day
Cable takes another peek above 1.3700, can buyers break through this time?
WTI crude oil futures settle at $52.36
“DO THIS TO MAKE MONEY THIS WEEK” $$$$$$$
MUFG trade of the week: Sell EUR/JPY

Leave a Reply

Your email address will not be published. Required fields are marked *