- EUR/AUD has made a high of 1.5705 and declined from that level. It is currently trading at 1.5450.
- Its major support is at 1.5400 (trend line joining 1.4860 and 1.53409). EUR/AUD has broken major support 1.5400 and recovered quickly from that level. Any further break below 1.5400 will confirm minor trend reversal, a decline till 1.5300 is possible.
- On the higher side upside has been capped around 1.5715 (Cloud bottom) and break above will take the pair to next level around 1.5840.
- The minor resistance is around 1.5485 and any break above will take the pair to 1.5560/1.5600.
It is good to buy at dips around 1.5450 with SL around 1.53950 for the TP of 1.5500/1.5600
The material has been provided by InstaForex Company – www.instaforex.com