After breaking the ascending
channel, EUR/AUD has been consolidating between 1.4750 and 1.4550 areas. While
consolidating, the pair rejected the 200-Moving Average suggesting that bears is
still driving this pair.
Consider selling EUR/AUD
while it is traging near 61.8% Fibs (1.4730) applied to the channel breakout
point, targeting either 38.2% (1.4505) or 23.6% Fibs (1.4365) support levels. Stop loss should be well above the 200-Moving Average, that is above 1.4800
phsycological resistance level.
Support: 1.4618, 1.4505,
1.4365,1.4140
Resistance: 1.4730
The material has been provided by InstaForex Company – www.instaforex.com
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