EUR/AUD Medium Term Outlook

FX:EURAUD   Euro / Australian Dollar
146 0 0
EUR/AUD             has broken major support around 1.4220 and is trading well below that level.
In the short it is expected to reach 1.3880 ( trend line joining 1.1610 and 1.22181)/1.3800 (Sep 2014 low).
The short term trend reversal can happen only above 1.4255 (200 Week EMA ). On the upside any break above will take the pair to 1.435/1.4400.

Indicators (Weekly Chart)
CCI (50)- Sell
CCI (14)- Sell

Recommendation: Sell EUR/AUD             around 1.4150, SL 1.4251,Target 1.3880/1.3800.

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