Levels to watch in early European trade
- USD/JPY: 61.8% retracement of 103.70/93.85 at 99.90.
- EUR/USD: Sovereign bids 1.2970/80.
- Cable: Important technical support 1.5155/80, double-bottom neckline and 61.8% 1.4830/1.5750.
- AUD/USD: Short-term resistance at .9215, down-trend line and 61.8% 0.9330/0.9110.
Hi Sean, would the AUD shoot up high tomorrow if the RBA happens to keep the rate on hold, you reckon?…
Can’t believe I dumped my long at 0.9150… Oh isn’t it fun on FX that anything could happen in the next minute?…
I don’t think it will shoot too far just yet Alec. RBA will stay on hold but they may have slightly less dovish language which could send it up a bit. But don’t chase higher in downtrend, never a good strategy
Hi Sean , i’m looking at a topping pattern in EurAud , looks like a h&s on 4h and 8H. shoulders at 1.4240 and a head at 1.4420 , neckline currently at 1.40. Could fit nicely with a rebound in the aussie. Worth a look . Have a great week.