EUR/AUD bounces off trendline support, good to go long on dips
EUR/AUD has tested and held above strong trendline support (currently at 1.55).
Aussie under pressure from Edward's comments and poor jobs report (released yesterday).
Stochs have turned higher from near oversold levels and RSI is biased higher, daily Ichi cloud is also widening ahead.
The pair has edged lower after hitting session highs at 1.5681, and we see weakness only below 1.55.
Upside could see tests of 1.57 and then 1.5770, while breaks below 1.55 could drag the pair at 1.5280 levels.
We would go long on dips around 1.56, SL: 1.55, TP: 1.57/1.5770
Aussie under pressure from Edward's comments and poor jobs report (released yesterday).
Stochs have turned higher from near oversold levels and RSI is biased higher, daily Ichi cloud is also widening ahead.
The pair has edged lower after hitting session highs at 1.5681, and we see weakness only below 1.55.
Upside could see tests of 1.57 and then 1.5770, while breaks below 1.55 could drag the pair at 1.5280 levels.
We would go long on dips around 1.56, SL: 1.55, TP: 1.57/1.5770