According to our prior analysis, EUR/AUD continues to decline. The pair found the resistance at 50% Fibs level (1.4618) and started to move down
once again.
The pair broke below 38.2% Fibs (1.4505) which should open
the way to the next downside target at 23.6% Fibs (1.4365).
Consider holding short positions from 1.4730 targeting 23.6%
Fibs (1.4365). The stop loss can be moved lower to 1.4625 in order to protect
profits.
Support: 1.4365
Resistance: 1.4505, 1.4618
The material has been provided by InstaForex Company – www.instaforex.com
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