TECHNICAL ANALYSIS OF EURAUD 11/12/15
To date, EUR / AUD remains in the range between 1.2962 and 1.2320 and intraday bias remains neutral. It can be seen as EUR / AUD is still bounded in range between 1.2926 / 1.4341 for almost a year and currently there is no indication for a change. Another climb and break 1.3230 will confirm the hypothesis that GBP / AUD has reached the minimum and another rise in the short term could occur towards 1.3808 and beyond, as well as another leg of the pattern of consolidation from 1.2926. However, values less than 1.2962 capovolgeranno focus to 1.2926. A sustained break at this point confirm the resumption of long-term down trend.
The price actions from 1.2926 are considered as a plot of consolidation in the medium term. There are no indications of a change and this pattern may extend further into the range between 1.2926 and 1.4341. However, the perspective remains bearish as long as the resistance of 1.4341 is maintained and this favors the start of the down trend. A sustained trading below 1.2926 would pave the way to the psychological level of 1.2.
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