EURAUD - Corrective move higher is limited
We look to Sell at 1.6840 with targets of 1.6608 & 1.6550 and a stop of 1.6880
2 positive daily performances in succession. Selling posted in Asia. Bespoke resistance is located at 1.6842. We have a 78.6% Fibonacci pullback level of 1.6840 from 1.6924 to 1.6534. The rally is close to an exhaustion count on the intraday chart. Due to an Ending Wedge formation, we continue to treat extended gains with caution.
2 positive daily performances in succession. Selling posted in Asia. Bespoke resistance is located at 1.6842. We have a 78.6% Fibonacci pullback level of 1.6840 from 1.6924 to 1.6534. The rally is close to an exhaustion count on the intraday chart. Due to an Ending Wedge formation, we continue to treat extended gains with caution.
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