FxWirePro: EUR/AUD bounces off trendline support, good to buy dips
EUR/AUD has bounced off trendline support around 1.4785 and is currently trading at 1.4821 levels. Stochs have rolled over from oversold region and RSI is biased north. The pair finds resistance at 1.4837 (5-DMA), while …
EUR/AUD has bounced off trendline support around 1.4785 and is currently trading at 1.4821 levels.
Stochs have rolled over from oversold region and RSI is biased north.
The pair finds resistance at 1.4837 (5-DMA), while immediate support is located at 1.4787 (session lows Mar 29th).
Amid a vacant calendar in Australia, the euro area M3 Money Supply and Private Sector Loans are in focus. Markets will also closely follow today’s speech by Fed's Yellen.
Recommendation: Good to buy dips around 1.4810, SL: 1.4780, TP: 1.4845/1.4855/1.4870
