EURAUD Weekly Chart Watch

FX:EURAUD   Euro / Australian Dollar
169 4 0
The bull move which began in April 2013 has reached a pivotal position.

The CD leg of the move faltered at the 1.272 fib extension of the AB leg, following a classic harmonic scenario.

The subsequent correction down has hit previous support at the 1.5000 price level.

If this support holds then a retest of resistance at the 1.5890 area could follow.

A break above targets a completion of an AB=CD pattern around 1.6760.

A break below 1.5000 targets previous support at the 1.4000 level.
mustard FxRanger
Strange you should say that, it broke the 1.50 support and hit my target of 1.40 exactly as stated.
A strong close below 1.5000 would be a good sign of a bearish continuation.
Are you looking for a break below 1.500 or a close below 1.500
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