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EUR/AUD faces strong trend line resistance at 1.5725, targets 1.5490

Monday, October 19, 2015 5:37 AM UTC

EUR/AUD has made a high of 1.5707 today and slightly retreating from that level. It is currently trading at 1.5645.
EUR/AUD is facing strong trend line resistance around 1.5705 (trend line joining 1.6145 and 1.5820) and any break above will take the pair till 1.5780/1.5825.
On the downside major support is around 1.5580 and break below will drag the pair to next level till 1.5530/1.5490/1.5395.

It is good to sell on rallies around 1.5645-50 with SL around 1.5720 for the TP of 1.5490

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EUR/AUD faces strong trend line resistance at 1.5725, targets 1.5490

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