EUR/AUD Trend is Still Unscathed

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The EUR/AUD seems it could proceed with a bearish momentum as the price is trending lower.

1.6105-15 is the POC zone where we could see fresh sellers. Bearish MA cross is suggesting a move down as the price is below Wizz Level 4 – 1.6140. If we see bearish momentum, watch for 1.6050 and possibly a retest of the 1.6000 zone. Final target is 1.5996. However, for this scenario to remain valid, ideally the price should stay below 1.6165. If it goes higher we will see a deeper retracement.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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