EUR/JPY broke key support level 131…
EUR/AUD reversed from resistance zone
- EUR/AUD reversed from resistance zone
- Next sell target - 1.4930
EUR/AUD has been under strong bearish pressure lately – after the pair failed to overcome the powerful resistance level 1.5225 (which is the upper boundary of the strong resistance area which has been reversing the pair from the start of June, as can be seen below). This resistance area was further strengthened by the upper daily Bollinger Band. EUR/AUD is expected to fall further to the next sell target at the next support level 1.4930 (low of wave (ii)) – the breakout of which can lead to further losses toward the next sell target at 1.4800.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.