FxWirePro: EUR/AUD hits fresh multi-month lows, further downside likely
Our short call on EUR/AUD (link below) is progressing, the Australian dollar hit fresh multi-month highs at 1.4634 against the euro earlier on Wednesday and is currently trading at 1.4666 The pair trends south towards Ju…
Our short call on EUR/AUD (link below) is progressing, the Australian dollar hit fresh multi-month highs at 1.4634 against the euro earlier on Wednesday and is currently trading at 1.4666
The pair trends south towards June lows, was slightly up in Asia as EUR was bid amid broad USD weakness & bargain hunting
Bearish outside day re-enforcing the downtrend, momentum studies, 5, 10 & 20 DMAs head south - bearish setup intact
The pair could see a retracement all the way to 1.4400 and then 1.4360 (76.4 % Fibo of Apr to Aug rise) with little chart support seen until then
Next immediate support is seen at 1.4662 levels, while resistance now lies at 1.4785 (61.8 % Fibo 1.3677 to 1.6584 (Apr - Aug) rise
