EUR/AUD – 1.4590 test eyed by Milan Cutkovic

  • 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

EURAUD

The post EUR/AUD – 1.4590 test eyed appeared first on www.forextell.com.

Leave a Reply

Your email address will not be published.