FX.co ★ EUR/AUD trading recommendations for 8th June 2016

EUR/AUD is on major fractal support (2x fibonacci projection level + 27% support on RSI) which leads us to play a bounce from here to the 38% retracement target of 1.5330. We can also see how the price has bounced off this RSI support level many times in the past beautifully.

Trading recommendations:

Buy now

Take profit at 1.5330

Stop loss at 1.5175