- EUR/AUD hits fresh 15-month highs at 1.52415 before paring some gains to currently trade at 1.5235 levels.
- The pair has shown 'Symmetric Triangle' breakout which raises scope for further upside.
- Technical indicators are biased higher, momentum studies are bullish.
- Next bull target lies at 1.5455 (61.8% Fib retrace of 1.6585 to 1.3626 fall).
- On the flipside, we see weakness on retrace below 1.5085 (converged weekly 5-SMA and triangle top).
Call update: Our previous call (https://www.econotimes.com/FxWirePro-EUR-AUD-struggles-at-major-trendline-resistance-at-15155-good-to-go-long-on-break-above-941992) has hit all targets.
Recommendation: Bias higher. Stay long for 1.53/ 1.5455, trail stop loss to 1.5080.
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 64.7127 (Neutral), while Hourly AUD Spot Index was at -71.2694 (Neutral) at 0540 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
