Short term trend: Bearish
Ichimoku analysis (Daily chart):
Tenkan-Sen level: 1.4408
Kijun-Sen level: 1.4463
Ichimoku cloud top: 1.4322
Ichimoku cloud bottom: 1.4193
EUR/AUD made a temporary top around 1.5917 and is declining from that level. The pair is facing major support around 1.4190 (Cloud bottom) and any break below will target 1.4039/1.3800 (Sep 5th low).
The minor resistance is at 1.4338. Any indicative break above would extend gain to 1.444/1.449.
Recommendation: Sell EUR/AUD around 1.4260, SL 1.449, Target 1.3805
Ichimoku analysis (Daily chart):
Tenkan-Sen level: 1.4408
Kijun-Sen level: 1.4463
Ichimoku cloud top: 1.4322
Ichimoku cloud bottom: 1.4193
EUR/AUD made a temporary top around 1.5917 and is declining from that level. The pair is facing major support around 1.4190 (Cloud bottom) and any break below will target 1.4039/1.3800 (Sep 5th low).
The minor resistance is at 1.4338. Any indicative break above would extend gain to 1.444/1.449.
Recommendation: Sell EUR/AUD around 1.4260, SL 1.449, Target 1.3805