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)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.