Mihai_Iacob

EurAud- Where is my buy zone?

Long
FX:EURAUD   Euro / Australian Dollar
In the past 2 weeks, I draw attention to EurAud and said that a break above 1.5850-1.59 resistance is probable and, in that case, the pair could rise to the next 1.62 resistance.
This happened on Friday...
In my opinion, the trend for EurAud is up and we should look for opportunities to buy.
Looking at the chart we see that the pair is retracing some of the up move, which is normal after a 400 pips rise in 3 days.
This should offer bulls an opportunity to join the trend and a good place for buys is around 1.6 figure.


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