EUR/AUD: targeting the 1.5140 level

EUR/AUD: targeting the 1.5140 level

EUR/AUD has gained momentum around the 65% Fibonacci retracement level at 1.4962 and now it’s targeting the -23.6% Fibo zone at 1.5138. During Friday’s session, it made a pull back in an effort to correct recent gains in the pair. If it manages to break above Friday’s highs, such target could be reached, while a pull back should take the pair to re-test the 200 SMA around the 38.2% Fibo level.

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

EURAUDmH1.png

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