The graph based on the technique of Ichimoku, but observed on two different temporal scanning, offers us a balanced perspective on this currency cross whose prospects have become less positive in recent sessions, thanks to a fairly hostile attitude of the central bank to strengthen the change.
The first one is based on weekly candles and shows us how the range of support offered by rather full-bodied bands that accompanied the bull market in 2013 is still holding the impact of the bears.
The second graph, instead, shows us a different perspective on a daily basis.
The violent rebound that has been generated from the low of 1.38 was exactly printed on the resistances generated by the clouds that have been driven the decline from the beginning of this year.
So EurAud has just done the bare minimum in terms of corrective movement with respect to the current trend in the medium term; exceeding 1.45 would undermine this structure in fact restoring the long-term bull market that has never failed.
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