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02.06.201506:13 Forex Analysis & Reviews: Technical analysis of EUR/AUD for June 02, 2015

Long-term review

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The cross made a double bottom between 1.3735 and 1.3685 and changed the direction towards North. The cross made a double top at 1.4391 trading at 1.4325 compared to 1.4372 at Monday's session. The strong resistance is seen at 1.4450. Fresh buying is available above 1.4450 with targets at 1.4580. Intraday resistance is seen at 1.4391 and 1.4425. At yesterday's session, the cross took the support at 200Dema 1.4240. Below this, 1.4195 20Wsma was found. In the hourly chart, the cross made a double top at 1.4391. In case the price takes off 1.4391, bulls can reach 1.4425 and 1.4450 in the extreme case. Fresh buying looms above 1.4450. Intraday support is found at 1.4280 and 1.4250. The panic will be triggered below 1.4245 towards 1.4200 and 1.4160.

Trade: Selling below 1.4280 aim at 1.4250, 1.4200 and 1.4160 , risk buying above 1.4340 target 1.4390, 1.4420.

To contact the author of this analysis, please email- joseph.wind@analytics.instaforex.com

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