FX.co ★ vbahringer | EUR/AUD

After the EURAUD price rose above 1.6600, the bears made a decent move south, but there are still plenty of promising targets below. The trading week ended near the 1.6420 level; if it manages to consolidate below right away, then the decline can continue towards 1.6355 and 1.6295. If 1.6295 is successfully broken, sellers will have a chance to head towards 1.6235 and 1.6175. If buyers manage to return above 1.6420 and consolidate above this level, then they can move up to 1.6450, 1.6480 and possibly reach 1.6510, but this scenario may turn out to be a pullback, and if the price bounces off 1.6480 and 1.6510, one could consider opening a EURAUD sell order. If in the end the bulls manage to consolidate above 1.6510, then growth will again become relevant, and the upside targets will be the levels 1.6540, 1.6570 and 1.6600.