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FX.co ★ Technical analysis of EUR/AUD for October 17, 2016

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Forex Analysis

2016-10-17T12:11:28
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Technical analysis of EUR/AUD for October 17, 2016

Clearly EUR/AUD is trending down but according to our Fibs applied to the channel breakout point, the pair is yet to test the nearest support at 23.6% Fibs (1.4366).

Consider holding short positions from 1.4730 or adding new short positions at the current rate (1.4440) targeting 23.6% Fibs (1.4365). Stop loss should be well above the 1.4500 psychological resistance.

Support: 1.4365

Resistance: 1.4505, 1.4618

Technical analysis of EUR/AUD for October 17, 2016

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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