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FxWirePro: EUR/AUD closes above 20 DMA at 1.4809, 1.5200 target in sight

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, …

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FxWirePro: EUR/AUD closes above 20 DMA at 1.4809, 1.5200 target in sight
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  • 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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