EURAUD has benefited from buoyant EUR sentiment and weakness in the AUD to move from support at 1.3654 to current levels at 1.3981. The DTF RSI is well set to move higher and TDI (Traders Dynamic Index) confirms this. However, like other EUR pairs H1 and H4 are overbought and prices looks stretched. Fridays move saw the price take and close above the 200 sma on H4 so as long as we stay above this level (1.3964) we could see price move higher after a period of consolidation.
Trade idea.
If we stay above the H4 200 sma and OB conditions ease then look to go LONG.
SHORT on a move back under the 200 at 1.3955.
Trade idea.
If we stay above the H4 200 sma and OB conditions ease then look to go LONG.
SHORT on a move back under the 200 at 1.3955.
