FX.co ★ Technical analysis of EUR/AUD for October 14, 2016

According to our prior analysis, EUR/AUD continues to decline. The pair found the resistance at 50% Fibs level (1.4618) and started to move down once again.

The pair broke below 38.2% Fibs (1.4505) which should open the way to the next downside target at 23.6% Fibs (1.4365).

Consider holding short positions from 1.4730 targeting 23.6% Fibs (1.4365). The stop loss can be moved lower to 1.4625 in order to protect profits.

Support: 1.4365

Resistance: 1.4505, 1.4618