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Short

EUR/AUD hits 2-month lows at 1.4984, good to sell rallies

FX:EURAUD   Euro Fx/Australian Dollar
238 0 9
EUR/AUD             broke below the 1.50 barrier to hit fresh 2-month lows at 1.4984.

The pair has since pared some losses to currently trade around 1.5034, weakness on charts to drag the pair lower.

Next immediate support for the pair lies at 1.4961 (July 30 lows), and further below at 1.4875 (Nov 19th lows).

Momentum studies are bearish , RSI and Stochs on both daily and weekly charts pointing south.

Good to sell rallies around 1.5050/70, SL: 1.5180, TP: 1.4960/1.49/1.4875/1.4790
Comment: All targets hit. We see scope for further downside.

Book partial profits lower trailing stops to 1.4820 and target 1.47/1.4650
Trade closed: target reached
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