DislikedEURAUD... Watch 5220-5230ish area... Key overhead level to watch 5331 (starting at 5300). We have entered a major previous supply zone today (price fell 1650 pips from here starting Dec 2014 ending at the April 2015 low). We took out a minor supply zone on Friday (as noted in a previous post the bulls pulled off a thing of beauty on Friday... check out a NY close 4 hour chart). I expect this zone may put up more of a fight and have noted the key 5330 level to watch for reactions. I am currently looking to long from somewhere in the 5220-5330 area...Ignored
Looking closer now at the daily chart for EURAUD yesterdays up bar was a complete and utter unsupported mark-up with the lowest volume seen this month.
Today's bar print and volume should give clues to future PA and direction for this pair.
Today's zone = Tomorrow's opportunity!