InstaForex - Analytics

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    EUR/AUD to continue its rally up

    According to my previous EUR/AUD analysis, the price did bounce of the S3 support (1.4386) and rushed up breaking the 23.6% Fibs resistance level.

    Currently 23.6% Fibs is acting as support, but the R1 resistance level (1.5085) yet to be reached. The trend confirmed to be bullish where buying opportunities should appear.

    Consider buying EUR/AUD today on pullbacks. Particular area of interest is 1.4820-14840, where the price broke through resistance. It seems nearly impossible for the pair to reverse at this point, however stop loss at S1 (1.4755) should be used.

    Support: 1.4755, 1.4551, 1.4386

    Resistance: 1.4985, 1.5085

    euraud-d1-instaforex-group-2.png

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