FX.co ★ Technical analysis of EUR/AUD for October 20, 2016

Based on our previous analysis EUR/AUD is expected to continue the downtrend to test 0% Fibs (1.4365) after breaking below the 23.6% Fibs support.

The final wave down can take place this week and therefore consider selling EUR/AUD at the current rate (1.4315), targeting 1.4140. The stop loss should be just above the nearest resistance at 1.4365

Support: 1.4340

Resistance: 1.4365, 1.4505, 1.4618