Today EURAUD has crashed through support at 1.4500 and soon the price may test low of December 2015 at 1.4350 level. It has to be noted that this afternoon will be ECB meeting and press conference of ECB chair Mario Draghi. Each EBC meeting causes higher volatility at currency pairs with euro. In the past there EBC caused very dynamic movements.
Due to this we can’t exclude that EURAUD will start rebound today. Since 10 days the price fell 760 pips without any clear rebound. If this happens targets for upward movement will be located at: 1.4500, 1.4620, 1.4730. The last mentioned level is strenghtened by Fibonacci 38.2% so this could be a target for rebound.
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