EUR/AUD Call Update - short progressing
The Australian dollar hit fresh multi-month highs at 1.4634 against the euro earlier on Wednesday and is currently trading at 1.4655
EUR/AUD short call is progressing, the pair trends south towards June lows, was slightly up in Asia as EUR lead 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
The pair is hovering around minor support at 1.4662 levels, breaks below will then see next minor support around 1.4550 levels, immediate resistance now lies at 1.4785 (61.8 % Fibo 1.3677 to 1.6584 (Apr - Aug) rise
EUR/AUD short call is progressing, the pair trends south towards June lows, was slightly up in Asia as EUR lead 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
The pair is hovering around minor support at 1.4662 levels, breaks below will then see next minor support around 1.4550 levels, immediate resistance now lies at 1.4785 (61.8 % Fibo 1.3677 to 1.6584 (Apr - Aug) rise
Trade closed: target reached
