Euro is weak, but AUD is weaker!

FX:EURAUD   Euro / Australian Dollar
16 0 1
There's an interesting technical confluence that could trigger a long trade; the 1.4700 area represented a stiff resistance for quite some time until it was finally defeated on 7/3. Since then, no significant pull back provided any opportunity to jump on the train headed north, but now we are seeing a major one who's pushing prices back to that same area that should be now tested as support. A nice level of confluence is provided by the 21 moving average approaching from below.
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