Following yesterday's exciting price action movements, there always follows a difficult period when the market needs to establish tradable levels. the EUR has fallen into consolidation on multiple pairs but EURAUD is the first to start trapping traders long and short. I'm sitting on my hands unfortunately until this plays out. As a technical trader my skills are only useful when there is consistency in price points, which are difficult to find after oversized moves like we've just seen.
There is a void below 1.45100 and obviously the area parallel to the large move so I'll let the battle happen before taking a position.
There is a void below 1.45100 and obviously the area parallel to the large move so I'll let the battle happen before taking a position.