EUR Trading Outlook
TECHNICALS: I’m suggesting a broad 1.0260/1.0360 intraday range for the AUD/USD with moves primarily dependent on flows in the crosses like AUD/JPY, GBP/AUD and AUD/NZD. The charts (see chart) suggest that a base might be trying to form near 1.0220 but resistance should also be very firm at 1.0360 (Fibo and previous highs).
TECHNICALS: The short-term technical outlook for AUD/USD (see chart) suggests that it may have fallen far enough for now and I favour reducing shorts now ahead of 1.0220 and looking to re-sell near strong resistance (trendline, 38.2% Fibo and recent highs) at 1.0360.
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