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- EUR/AUD has broken major trendline resistance at 1.49 levels.
- The pair has cleared past 100-DMA at 1.4981, but is struggling at 200-DMA at 1.5067.
- Further upside likely on break above 200-DMA. Test of 1.55 levels then likely.
- Pair could resume downside on fall below 100-DMA.
- Weekly charts are bullish. Stochs, RSI and MACD on weeklies confirm upside.
Recommendation:
- Risk averse can go long on break above 200-DMA.
- Others with risk appetite can long dips around 1.50, SL: 1.49, TP: 1.5130/ 1.52/ 1.5280/ 1.5365
