- EUR/AUD has been consolidating in narrow range between 1.6065-1.5660 for the past three trading session. It is currently trading at 1.5777.
- On the downside it has broken major short term support 1.5800 and this confirms short term weakness, a decline till 1.5660 cannot be ruled out.
- The pair's minor intraday resistance is around 1.5860 and any indicative break above would extend gains till 1.5900/1.5960.
- Short term reversal only above 1.5960.
- Overall trend reversal only above 1.6200.
It is good to sell on rallies around 1.5800 with SL around 1.5865 for the TP of 1.5660
Resistance
R1- 1.5865
R2-1.5910
R3- 1.5960
Support
S1-1.5740
S2-1.5660
S3-1.5600
