The secondary trend of EUR/AUD is bearish on charts and price is trading above the trend line in its weekly chart. In weekly chart the price is sustaining above 200 day SMA and is taking resistace of 50 day SMA indicating dowtrend of the pair.
Resistance level of 1.5085 and Support level of 1.4698
If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.
STRATEGY: EUR/AUD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
Resistance level of 1.5085 and Support level of 1.4698
If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.
STRATEGY: EUR/AUD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.