Most people traded EUR lately after an unexpected fall in import prices of 0.2% against estimated 0.1%, while AUD is holding on to its gains on lower odds of an RBA cut –
The stochastic is falling down from oversold on both D1 and H4 with H4 starting to turn out of the area, meanwhile on H1 is between 80-50 zone heading down.
A possible retracement on price action, with moving averages 5 and 8 converging in H4 signaling a possible strong support at MM2 since price failed to break the area in recent time showing triple bottom. If price action retrace or bounces and test previous resistance as support, a long position will be considered.




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