0706 GMT - EUR/AUD's short-term uptrend may extend further, based on technical charts, says Kelvin Wong, senior market analyst at Oanda, in an email. The currency pair has rallied by around 2.7% to the present intraday high from the Jan. 2 low, the analyst notes. Its medium- and short-term momentum readings, as indicated by daily and hourly relative strength indexes, are still showing bullish momentum conditions that may support a further potential move higher, the analyst says. Next resistance levels are at 1.6655 and 1.6720, while short-term pivotal support is at 1.6450, the analyst adds. EUR/AUD is up 0.4% at 1.6584. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 17, 2024 02:06 ET (07:06 GMT)
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