FXWIREPRO: EUR/AUD Bounces Off Trendline Support, Good to Buy Dips

FXWIREPRO: EUR/AUD Bounces Off Trendline Support, Good to Buy Dips

29 March 2016, 09:54
Roberto Jacobs
0
5

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

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