EUR Trading Outlook
TECHNICALS: I’m looking at a possible basing formation (see chart) in AUD/USD and even though we didn’t get the expected acceleration when .9250 broke, I still prefer the long side at current levels at least from a risk-reward perspective. Resistance is clear at .9350 and we may get some extended range trading between there and .9100 before the next directional move begins.
TECHNICALS: The support and resistance lines are pretty clear at the moment, with recent lows at .9035/40 looking to form a double-bottom but solid resistance levels at .9180 and .9250 keeping the bears in control (see chart).
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