Looking daily chart, looks like price is hovering round 19. January 2014 high.

euraud-d

If price will respect it we could move north again (1). Second option (2) is that price will retest trend line and then move north. If we move down to 4h chart we can see that a little bit above 19. January 2014 high there is WPP, which could also act as a support.

euraud-4h

At trend line intersection there is also MPP. So lots of support above. If neither one of above mentioned support will not hold, then we still have psychological level 1.5500 and at 1.5280 blue marked role reversal area. So plenty of a support, where we could wait for buy price action signal on daily, 4h or 1h charts.

In Australia there is Retail Sales m/m and Trade Balance news during the night. In EU Minimum Bid Rate news and later on there is also ECB Press Conference

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.