- EUR/AUD had a solid bounce off the 1.43 support level yesterday
- While the longer-term EUR outlook remains without doubt negative, short positioning is at extreme levels which is making a continuation of the downtrend more difficult
- On the other side, AUD positioning is still mildly long and if the FOMC will indeed be hawkish tomorrow, the commodity currencies will be the ones suffering the most
- EUR/AUD has key intraday support at 1.43 and also support in form of the broken Daily trendline
- Next key resistance seen at 1.4590
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