EUR/AUD has broken major support around 1.4220 and is trading well below that level.
In the short it is expected to reach 1.3880 (trend line joining 1.1610 and 1.22181)/1.3800 (Sep 2014 low).
The short term trend reversal can happen only above 1.4255 (200 Week EMA). On the upside any break above will take the pair to 1.435/1.4400.
Indicators (Weekly Chart)
CCI (50)- Sell
CCI (14)- Sell
Ichimoku-Sell
Recommendation: Sell EUR/AUD around 1.4150, SL 1.4251,Target 1.3880/1.3800.
In the short it is expected to reach 1.3880 (trend line joining 1.1610 and 1.22181)/1.3800 (Sep 2014 low).
The short term trend reversal can happen only above 1.4255 (200 Week EMA). On the upside any break above will take the pair to 1.435/1.4400.
Indicators (Weekly Chart)
CCI (50)- Sell
CCI (14)- Sell
Ichimoku-Sell
Recommendation: Sell EUR/AUD around 1.4150, SL 1.4251,Target 1.3880/1.3800.