According to my previous EUR/AUD analysis, the price did bounce of the S3 support (1.4386) and rushed up breaking the 23.6% Fibs resistance level.
Currently 23.6% Fibs is
acting as support, but the R1 resistance level (1.5085) yet to be reached. The
trend confirmed to be bullish where buying opportunities should appear.
Consider buying EUR/AUD today on
pullbacks. Particular area of interest is 1.4820-14840, where the price broke
through resistance. It seems nearly impossible for the pair to reverse at this
point, however stop loss at S1 (1.4755) should be used.
Support: 1.4755, 1.4551,
Resistance: 1.4985, 1.5085
The material has been provided by InstaForex Company – www.instaforex.com