EUR/AUD Technical analysis
The EUR/AUD pair is currently in an uptrend in the daily timeframe.
It is currently at the 1.618 fibonacci extension of its rally initiation point, which can act as a strong resistance.
If the resistance holds, we can expect a good retracement move due to profit booking.
If the resistance is broken then a good accelerated bullish move can be witnessed.
It is currently at the 1.618 fibonacci extension of its rally initiation point, which can act as a strong resistance.
If the resistance holds, we can expect a good retracement move due to profit booking.
If the resistance is broken then a good accelerated bullish move can be witnessed.
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