JFD_Research

EURAUD - Daily - Still climbing

FX_IDC:EURAUD   Euro / Australian Dollar
Trade Alert

EURAUD continues to climb higher with the help of the upside support line, taken from the 6th of June. Until that line is broken, we remain skeptical about the downside potential.

A break and a close above the 1.5780 level could open the path towards the 1.5830 area. If that area is not able to withhold the rate from rising, then we could aim for the 1.5965 zone, marked by the high of the 9th of May.

For to start considering lower levels, we would need to see a break and a close below the upwards moving support line. We could then start examining the possibility of the pair moving towards the 1.5620 area.

Don't forget your SL.

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