EURAUD: May take a month to establish a Support. Accumulation.

The EURAUD pair is on a strong green 1D candle today, turning 1D technicals neutral again (RSI = 48.319, MACD = 0.001, ADX = 27.956) after the 1D RSI rebounded from a 42.000 three month low yesterday. It did so after crossing under the 1D MA50 for the first time in 2.5 months.

As long as S1 holds, we see a lengthy (even 1 month) support formation, inside a long term Channel Up, a formation similar to January/ February. Our long term target is the 1.236 Fibonacci (TP = 1.69500).



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