FxWirePro: EUR/AUD closes above 20 DMA at 1.4809, 1.5200 target in sight
Tuesday, December 8, 2015 6:40 AM UTC
- EUR/AUD close above 1.4849 20 DMA yesterday set targets 1.5207 (38.2% of Aug/Dec fall) in sight
- The pair is trading slightly firmer, led by AUD weakness post China trade data, currently it is at 1.5001
- Momentum studies, 5 & 10 DMAs edge higher, falling 21 DMA at 1.4863 (neutral setup) is support on the downside ahead of 200 DMA at 1.4813
- Resistance on the upside is seen at 1.5041 (Nov 18 highs) and then at 1.5080 (Nov 17 highs)
Recommendation: Good to buy dips around 1.4900, SL: 1.4810, TP: 1.52
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