EUR/AUD reaching an extreme zone in the bullish bias

EUR/AUD reaching an extreme zone in the bullish bias

EUR/AUD is currently strong in the bullish bias for the short-term and price action remains above the 200 SMA at H1 chart. So far, according with our Fibonacci projection, the pair could target the range between the 1.5114 and 1.5189 levels, at which is located the 100% Fibonacci expansion level and it’s the duplication of a cycle started in June 20th.

The RSI is confirming our scenario that the pair has reached an upside extreme and eventually we can start to see pullbacks to take place.

EURAUDH1.png

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