There are still few hours left to the afternoon ECB’s decision on the interest rates and the subsequent conference of its chief Mario Draghi, but already situation became interesting on the currency pairs with euro.
EURAUD just broke support level of 1.4120. But we need to be careful here because similar break earlier ended with long lower shadows and returning back of price above this level. It is also certain that in the course of today’s ECB will appear considerable volatility in pairs with euro, so the effective break will only happen after Draghi press conference. If this level is broken actually nearest support level is at 1.3800. The possible return above 1.4120 level will indicate movement towards the next resistance: 1.4250, 1.4300, 1.4470, 1.4580.