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FxWirePro: EUR/AUD holds trendline support, good to go long on dips

EUR/AUD has taken strong trendline support at 1.5475 and edged higher, gains upto 1.5630 likely. EUR bulls supported amid positive Asian equities and a broadly lower greenback, while softer Australian employment numbers …

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FxWirePro: EUR/AUD holds trendline support, good to go long on dips
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EUR/AUD has taken strong trendline support at 1.5475 and edged higher, gains upto 1.5630 likely.

  • EUR bulls supported amid positive Asian equities and a broadly lower greenback, while softer Australian employment numbers weigh on the Aussie.
     
  • Breaks below 1.5475 could see the pair at 1.5280 levels, while upside could see tests of 1.5630.
     
  • 4H Ichi cloud is widening ahead and momentum on 4-hourlies is higher.

Recommendation: Good to go long on dips around 1.5530, SL: 1.5470, TP: 1.5615/30

Support levels:

S1: 1.5475 (Rising Trendline)

S2: 1.5421 (Feb 3rd lows)

S3: 1.5417 (Feb 4th lows)

Resistance Levels:

R1: 1.5630 (5 DMA)

R2: 1.5644 (Feb 3rd highs)

R3: 1.5662 (Jan 13th highs)

 

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