(1,2335) EUR/AUD confirmed on Friday a closing again above the 200 days line before however plunging again lower this morning breaking already Thursday’s low and confirming the s/t 1,2328. A daily closing below 1,2355 will support lower levels suggesting a test of the key level at 1,2159; a daily closing also below this last level will abort the suggested reversed S_H re-launching the decline. The indicators of the daily chart are still well negative and already oversold and showing potential positive reversals; those of the weekly one are also negative supporting lower levels. The indicators of the s/t charts are of course also negative at the moment supporting lower levels. Bullish divergences also in the 4h chart confirm a negative tone. We expect further weakness but at the present level we avoid new shorts!!
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Future Trend Research