EURAUD is now officially in consolidation. I expected price to break last resistance but we are now consolidating instead. If the market chooses a path, follow and don't resist.
Overall still expecting AUD weakness. Per the RBA Minutes: The Board has noted that a lower AUD would provide more assistance to economic recovery. Policies will follow to drive this.
If you were able to catch the bottom support entry, awesome! If not:
Look to enter at price area of 1.6200
TP @ 1.6325
Good luck!
Charles V
cvfxmanagement.com
Trading made Simple
Overall still expecting AUD weakness. Per the RBA Minutes: The Board has noted that a lower AUD would provide more assistance to economic recovery. Policies will follow to drive this.
If you were able to catch the bottom support entry, awesome! If not:
Look to enter at price area of 1.6200
TP @ 1.6325
Good luck!
Charles V
cvfxmanagement.com
Trading made Simple
Note
Price retesting next(large) support area: 1.6143Note
We have a close above last low of 1.6143 area. AUD news in 1 hour and weakness is highly expected. Expecting price to retrace to the top of the channel.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.