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Long

EUR/AUD Short term outlook

FX:EURAUD   Euro Fx/Australian Dollar
130 0 0
EUR/AUD             has broken short term resistance around 1.4406 (Jan 22nd high) and is trading above that level. Short term trend is bullish as long as support 1.4380 holds.

On the downside break below 1.4380 will take the pair to 1.4320/1.4270.

The pair is facing resistance around 1.4480 (200 day 4 hour EMA) and any indicative break above would extend gain to 1.4650 (200 day 4HMA).

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy EUR/AUD             around 1.4470, SL 1.4400, Target 1.4650.

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