EURAUD is trading higher and has jumped more than 200 pips after dovish comments by RBA Governor Lowe.The pair has broken major trend line resistance 1.5940 and jumped till 1.59939 at the time of writing. It is currently trading around 1.59597.
On the higher side near term major resistance is around 1.59920 (200- HMA) and any break above targets 1.60375/1.6150 level.
The minor weakness can be seen only below 1.5900 any violation below targets 1.5850/1.5770.
It is good to buy on dips around 1.5940-45 with SL around 1.5900 for the TP of 1.6150.
