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- EUR/AUD capped below major trendline resistance at 1.50, we see Doji formation on daily charts in the Asian session.
- Data released earlier today showed that Australia’s new Home Sales dropped 4.4% in May, following a 4.7% decline in April.
- Focus on news flow and developments surrounding the referendum along with the release of German prelim CPI print for the month of June.
- Expectations are for German CPI to accelerate from flat Y/Y to 0.2% Y/Y in June.
- Intraday bias for the pair is higher, break above 1.50 could see gains upto 1.5050.
- Immediate support and resistance are seen at 1.4942 (5-DMA) and 1.50 (trendline) respectively.
Recommendation: Good to buy dips around 1.4960, SL: 1.49, TP: 1.50/ 1.5050
