- EUR/AUD is trading a 'Rising Triangle' pattern and has paused upside at major trendline resistance at 1.5155.
- The pair hit 6-week highs at 1.51496 before paring some of the gains to currently trade at 1.5122.
- The pair is trading with a bullish bias on weekly charts and we see upside on break above 1.5155.
- Price action above daily cloud and major moving averages. We see weakness only on break below 1.4750 (50-DMA).
Support levels - 1.51, 1.5062 (5-DMA), 1.4950 (50-DMA)
Resistance levels - 1.5155 (Trendline), 1.5174 (Aug 2017 highs), 1.5226 (May 2017 highs)
Recommendation: Watch out for break above 1.5155 to go long, target 1.5175/ 1.5225
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
