SeaLionLLC

EUR/AUD momentum shift

Short
FX:EURAUD   Euro / Australian Dollar
0
$EURAUD has now put in a lower high and momentum is turned to the downside. Clearly the Euro is short term overbought against multiple currencies and while the Aussie remains stubborn against the Dollar this makes it strong against the Euro . Minor support at 1.2550 is unlikely to hold with the negative momentum behind price which is no longer consolidating.

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