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Short

EUR/AUD Call Update - short progressing

FX:EURAUD   Euro Fx/Australian Dollar
195 0 3
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
Trade closed: target reached
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