This pair fell after better than expected AU news earlier today and it is currently finding some support at round psychological number 1.5000.

euraud1-d

There is also 200 EMA on daily chart and also lower Bollinger band, which all could act as a support. On a top of it, there is also nice bullish divergence on Stochastic’s.

If 4h or 1h chart will present nice reversal rejection signal to go long, we could consider it to take it, despite that we are in a strong downtrend on daily chart. On the other side, if we will get strong break of 1.5000 support, we could wait for a retest from bellow and then look for short signal to trade with current down trend on this pair.
There is no red AU news ahead of us, tomorrow we have German Prelim GDP q/q news in EU.

Leave a Reply

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