EURAUD is now officially in consolidation. I expected price to break last resistance but we are now consolidating instead. If the market chooses a path, follow and don't resist.
Overall still expecting AUD weakness. Per the RBA Minutes: The Board has noted that a lower AUD would provide more assistance to economic recovery. Policies will follow to drive this.
If you were able to catch the bottom support entry, awesome! If not:
Look to enter at price area of 1.6200
TP @ 1.6325
Good luck!
Charles V
www.cvfxmanagement.com
Trading made Simple
Overall still expecting AUD weakness. Per the RBA Minutes: The Board has noted that a lower AUD would provide more assistance to economic recovery. Policies will follow to drive this.
If you were able to catch the bottom support entry, awesome! If not:
Look to enter at price area of 1.6200
TP @ 1.6325
Good luck!
Charles V
www.cvfxmanagement.com
Trading made Simple
Comment:
Price retesting next(large) support area: 1.6143
Comment:
We have a close above last low of 1.6143 area. AUD news in 1 hour and weakness is highly expected. Expecting price to retrace to the top of the channel.