- EUR/AUD extends grind higher after 'Symmetric Triangle' breakout, bias higher.
- 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).
- Break there could see further upside, scope then for 1.5646 (May 2017 high) ahead of 1.5952 (78.6% Fib).
- Weekly 200-SMA at 1.4747 is major support, we see weakness on break below.
Support levels - 1.5225 (5-DMA), 1.5184 (Weekly 5-SMA), 1.5155 (20-DMA)
Resistance levels - 1.5455 (61.8% Fib), 1.55, 1.5646 (May 2017 high)
Call update: Our previous call (http://www.econotimes.com/FxWirePro-EUR-AUD-edges-lower-from-15-month-highs-at-152415-bias-higher-stay-long-968781) is approaching final targets.
Recommendation: Watch out for break above 61.8% Fib for further upside.
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 174.835 (Bullish), while Hourly AUD Spot Index was at -76.3581 (Bearish) at 0840 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
