Yesterday EURAUD has reached monthly high at 1.5156. Today rebound occurred, however situation at wider time frame is indicating that upward movement should be continue. Nearest supports: 1.4970, 1.4900, 1.4730, 1.4620 and resistances: 1.5140, 1.5240, 1.5410.
There isn’t clear trend on daily time frame. We can see huge consolidation, in which price has moved since August 2015. This consolidation is limited between levels 1.4500, 1.6230. In a mid-February price has tested upper limit of the consolidation and a one month later its lower limit. It is likely that EURAUD has started movement to upper limit of indicated consolidation. Right now the best trading idea is range trading.
Time-frame H1
Time-frame D1