euraud analysis on dated 17-11-2022

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Euro vs. AUD – The EURAUD currency pair is one of the most popular currencies today, and for good reason. As a global reserve currency, the Euro has strong backing from the European Union (EU) while also being a relatively stable currency compared to other major world currencies.

 

Meanwhile, Australia is one of Asia’s leading economies and has been growing rapidly over the past few decades. This means that both countries have reasons to invest in euros and AUD – making this a very safe investment choice.

 

Euraud is the new currency pairing on Poloniex. It pairs the euro with two other major digital currencies – Litecoin and Ethereum.

 

What are the benefits of using Euraud?

  • It offers a more diverse range of trading options, including both long and short positions.
  • The euro can be used to purchase these other cryptocurrencies, which makes it a valuable asset for investors.
  • Euraud also has low spreads compared to some of the other cryptocurrency pairings on Poloniex.

 

The following details should be considered when you make a euraud trading by today-

  • Previous support located at 1.53500.
  • Previous resistance located at 1.5400.
  • Prices stalled near support and reversed higher.
  • Risk/Reward would be poor to call a buy from current levels.
  • A move through 1.5400 will confirm the bullish momentum.

 

Recommendations: Buy/Buy limit @ 1.54400       TP/Target: 1.56400