The EUR/AUD has formed t-89 back to back patterns and we should see the upside bounce.
1.6270-90 zone is where we can expect to see a push to the long side of the market. The ATR(5) is not very high, only 61 pips which indicates slower moving market. Today is Friday so we might see some profit taking and possible spike on the price. Targets are 1.6315, 1.6350 and 1.6405. As long as 1.6200 holds bulls should be safe.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX