FX.co ★ Technical analysis of EUR/AUD for September 23, 2016

EURAUD steadily moving down and this week broke below the ascending channel. Pair found a resistance the rejection level of the 50 Moving average. This level also corresponds with the 50% (0.4707) Fibs applied to the channel breakout level.

While this resistance is holding consider selling EURAUD, targeting either 38.2% (1.4615), 23.60% (1.4500) or 0% (1.4317) Fibs. The suggested stop loss is 1.4750.

Support: 1.4615, 1.4500, 1.4317

Resistance: 1.4707, 1.4800