EUR/AUD: 4-hour
Y’all know I can’t resist a good break-and-retest setup, right? Here’s a neat one on EUR/AUD’s 4-hour forex chart! The pair appears to have completed its correction, as it is finding support at the 61.8% Fibonacci retracement level and a former resistance area. Stochastic is moving north, which means that buyers could have enough energy to push price back to its previous highs around the 1.5300 major psychological resistance. However, if sellers refuse to give up, EUR/AUD might break below the area of interest and head south to the next support level around 1.4250.
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