FX.co ★ Technical analysis of EUR/AUD for October 12, 2016

Basen on our previous analysis, EUR/AUD started to move lower and broke below the 50% Fibs (1.4618) support. The pair is trading below both 50- and 200-Moving Average and clearly trending down while none of the downside targets have been reached yet.

Consider holding short positions from 1.4730 traging either 38.2% (1.4505) or 23.6% Fibs (1.4365) support levels. The stop loss should be moved to break even level at 1.4730.

Support: 1.4505, 1.4365,1.4140

Resistance: 1.4618, 1.4730