FXWIREPRO: EUR/AUD Bounces Off Trendline Support, Good to Buy Dips
29 March 2016, 09:54
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FXWIREPRO: EUR/AUD Bounces Off Trendline Support, Good to Buy Dips
- EUR/AUD has bounced off trendline support around 1.4785 and is currently trading at 1.4821 levels.
- Stochs have rolled over from oversold region and RSI is biased north.
- The pair finds resistance at 1.4837 (5-DMA), while immediate support is located at 1.4787 (session lows Mar 29th).
- Amid a vacant calendar in Australia, the euro area M3 Money Supply and Private Sector Loans are in focus. Markets will also closely follow today’s speech by Fed's Yellen.
Recommendation: Good to buy dips around 1.4810, SL: 1.4780, TP: 1.4845/1.4855/1.4870
The material has been provided by InstaForex Company - www.instaforex.com
