Price Action Context
Since February, EURAUD has been stuck in a tight and somewhat unclean LT corrective structure at the lower end an even larger LT range.
Neutral bias, and as long as this range is in play, traders can look for potential trading opportunities around the top/bottom of the structure.
Key Support & Resistance Zones
R: 1.5140 – 1.5225
S: 1.4870 – 1.4950
Trading Foreign Exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advisce from an independent financial advisor if you have any doubts.