EUR/AUD: Next major technical target at 1.50
Remember the beautiful basing formation on the weekly chart (see chart)! Well most of the oversold characteristics have been unwound and we will return very soon to longer-term neutral levels. Proof once again that the FX market is one great big range trade!
Next technical resistance target is a weekly high near 1.5000 and any dips now back towards 1.4400 should be well supported.