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FxWirePro: EUR/AUD finds stiff resistance at 200-DMA, upside only above 1.5955

EUR/AUD chart - Trading View 

  • EUR/AUD is trading in an extremely narrow range on the day with session highs at 1.5914 and lows at 1.5886.
     
  • The pair has been rejected at major trendline resistance at 1.5960.
     
  • 200-DMA also offers stiff resistance and any upside only on decisive break above.
     
  • We see a bullish 5-DMA crossover on 20-DMA and +ve DMI dominance adds support.
     
  • Breakout at 1.5955 could see gains upto 1.6121 and then 1.6176 (Upper BB).
     
  • Rejection at 200-DMA could see dip till 5-DMA at 1.5820. Break below will see test of trendline support at 1.5710.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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