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Euro / Australian Dollar
Short

EURAUD back to resistance, possible reversal

By Tickmill
Broker

EURAUD is now back to testing major resistance at 1.5285 (38.2% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal pullback resistance). Price could not break through this level since yesterday and price action seems to be stalling around this area. A possible drop could occur at this level in line with our bearish channel to push price towards 1.5182 support (Fibonacci extension support).

RSI (21,5,3) is seeing major resistance at 96% where a corresponding reaction could occur.

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Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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