- EUR/AUD has been consolidating in narrow range between 1.6065-1.5660 for the past three trading session. It is currently trading at 1.5777.
- On the downside it has broken major short term support 1.5800 and this confirms short term weakness, a decline till 1.5660 cannot be ruled out.
- The pair’s minor intraday resistance is around 1.5860 and any indicative break above would extend gains till 1.5900/1.5960.
- Short term reversal only above 1.5960.
- Overall trend reversal only above 1.6200.
It is good to sell on rallies around 1.5800 with SL around 1.5865 for the TP of 1.5660
The material has been provided by InstaForex Company – www.instaforex.com