EUR/AUD finding strong resistance near 1.5700

EUR/AUD finding strong resistance near 1.5700

The EUR/AUD pair is consolidating the price action below the 78.6% Fibonacci level at 1.5708, which should help to strengthen such area in the short-term, in order to help the sellers to take the control from there. The pair is also making a rebound from the 200 SMA and it should help to make another leg higher, but we do expect a decline towards the 1.5480 level, at which a breakout should open the doors to test the Fibo target of -23.6% at 1.5412.

RSI indicator remains in the positive territory, favoring to the bulls.



USD/JPY: "Doji" pattern

The 21 Moving Average acted as resistance, so the pair is likely going to test the lower "Window" soon...


Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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