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EUR/AUD trades rangebound, extending its consolidation phase after it breaks channel resistance on Dec 8th.
- Momentum studies are neutral, 5, 10 & 20 DMAs either base/climb, choppy range trade looks set to extend
- Breaks above trendline resistance at 1.5225 could see tests of 1.53 levels, further upside could 1.5521 (61.8% Fib of 1.6249 to 1.4349 fall)
- Immediate resistance is seen at 1.5225 (trendline resistance) ahead of 1.5297 (50% Fib of 1.6249 to 1.4349 fall), while support on the downside is seen at 1.5157 (10 DMA) and then 1.5079 (Dec 16 lows)
