EURAUD price is standing at the higher low level of an Uptrend line in the 4-hour timeframe chart.
EURAUD buy signal is given at this higher low area.
EURAUD is trying to break the higher low of an uptrend line and this led to the SL price. However the market is still in an Uptrend.
EURO: Reducing PEPP assets in October month
EURUSD to retest 1.20-1.21 in the near term as Lower highs progress in the market.
And CPI data are lesser and approximately closer to the expected level, So ECB plans to reduce PEPP funds in August.
And Bond buying may be stopped in the Fourth Quarter onwards, and Reducing PEPP bond-buying program will increase the rate of EURO against USD.
CPI shows 1.5%, which is below the 2% target of Euro, so that EURUSD will move higher in the upcoming week.
Australian Dollar: Australian Trade surplus and GDP data
AUDUSD makes higher as Australian GDP Printed higher than expected reading. But Iron ore Prices hits lower reading Today.
And Australian Trade surplus widens to 12.1 billion against AUD 10 billion. China accounts for 26.6 billion of Goods bought in July month.
The largest exports of Australia are
- Iron ore-AUD 17.1 billion
- Coal-AUD 4.7 billion
- Natural Gas-AUD 4.3 billion
- Gold-AUD 1.9 billion.
And Australian Monetary policy happening in next week, but no surprise to tapering in policy settings.
Australian Economy still suffered from more lockdowns as the Delta variant spread more.
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