FxWirePro: EUR/AUD faces strong support at 1.5400, good to buy at dips
EUR/AUD has made a high of 1.5705 and declined from that level. It is currently trading at 1.5450. Its major support is at 1.5400 (trend line joining 1.4860 and 1.53409). EUR/AUD has broken major support 1.5400 and recov…
EUR/AUD has made a high of 1.5705 and declined from that level. It is currently trading at 1.5450.
Its major support is at 1.5400 (trend line joining 1.4860 and 1.53409). EUR/AUD has broken major support 1.5400 and recovered quickly from that level. Any further break below 1.5400 will confirm minor trend reversal, a decline till 1.5300 is possible.
On the higher side upside has been capped around 1.5715 (Cloud bottom) and break above will take the pair to next level around 1.5840.
The minor resistance is around 1.5485 and any break above will take the pair to 1.5560/1.5600.
It is good to buy at dips around 1.5450 with SL around 1.53950 for the TP of 1.5500/1.5600
