FxWirePro: EUR/AUD capped below 20-DMA, good to go long on break above

• EUR/AUD rejected at session highs at 1.4216, slips lower to currently trade at 1.4176.
   
• The pair finds major resistance at 1.4236 (20-DMA), break above could see extension of upside.
   
• Technical studies are biased higher, we see scope for test of 100-DMA at 1.4413.
   
• Stochs have rolled over from oversold and MACD is showing a bullish crossover on signal line.
   
• On the flipside, rejection at 20-DMA with turn on technicals could see test of trendline support at 1.3980.
   
• Major support levels - 1.4091 (Dec 15 low), 1.4027 (Jan 19 low), 1.3980 (Trendline)
   
• Major resistance levels - 1.4236 (20-DMA), 1.4304 (50-DMA), 1.4413 (100-DMA)

Recommendation: Good to go long on break above 20-DMA at 1.4236, SL: 1.4170, TP: 1.43/ 1.4340/ 1.44

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at -115.31(Highly bearish), while Hourly AUD Spot Index was at 57.4958 (Neutral) at 0810 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.