FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch(EURUSD and AUDUSD) for the day
FxWirePro: EUR/AUD drops to intra-day low after shying away from 1.5300
• EUR/AUD declined on Tuesday as comments ECB policymaker Pierre Wunsch weighed on euro.
• ECB policymaker Pierre Wunsch said the central bank should offer limitless support to fight borrowing costs due to fragmentation.Wunsch's comments weighed broadly on the euro.
• EUR/AUD drops below the 5-DMA , slide halts at the 1.5170(38.2%fib),break below will accelerate towards 1.5200 level.
• Immediate resistance is located at 1.5300 ( Daily high), any close above will push the pair towards 1.5344 (38.2%fib).
• Strong support is seen at 1.5170(38.2%fib) and break below could take the pair towards 1.5092 (14DMA).
Recommendation: Good to sell around 1.5210, with stop loss of 1.5350 and target price of 1.5100