FxWirePro: EUR/AUD Trade Idea

FxWirePro Hourly Currency Strength Index Bias Bearish

FxWirePro's Hourly EUR Spot Index was at -138.285 (Bearish)

FxWirePro's Hourly AUD Spot Index was at 123.808 (Bullish)

Technical Studies: Bias Bearish

- EUR/AUD breaks below 2H 110-EMA at 1.5678

- Upside capped at 5-DMA

- MACD on verge of bearish crossover on signal line

Support levels - 1.5635 (trendline), 1.56, 1.5570 (20-DMA)

Resistance levels - 1.5678 (2H 110-EMA), 1.5704 (1H 110-EMA), 1.5817 (Feb 14 high)

Recommendation: Good to go short on rallies, SL: 1.57, TP: 1.5635/ 1.56/ 1.5570

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