EUR/AUD reversed from resistance zone

EUR/AUD reversed from resistance zone

2021-11-11 • Updated

  • EUR/AUD reversed from resistance zone
  • Next sell target - 1.3880

EUR/AUD recently reversed down from the resistance zone lying at the intersection of the resistance level 1.4300 (top of the previous minor correction (ii) from February), upper daily Bollinger Band and the resistance trendline of the wide daily down channel from last year. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Shooing Star.

EUR/AUD expected to fall to the next sell target at the support level 1.3880 (which has been reversing the price from the start of this month, as can be seen below).



EUR/USD Hit All Targets
EUR/USD Hit All Targets

4H Chart  Daily Chart  EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

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