EUR/AUD Trend is Still Unscathed
|The EUR/AUD seems it could proceed with a bearish momentum as the price is trending lower.
1.6105-15 is the POC zone where we could see fresh sellers. Bearish MA cross is suggesting a move down as the price is below Wizz Level 4 – 1.6140. If we see bearish momentum, watch for 1.6050 and possibly a retest of the 1.6000 zone. Final target is 1.5996. However, for this scenario to remain valid, ideally the price should stay below 1.6165. If it goes higher we will see a deeper retracement.
The analysis has been done with the CAMMACD.MTF template.
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