EURAUD is at the interesting level. Price already reached support at 1.5270 and that level was in game many times since December 2014. Yesterday rebound occurred, but right now it is indicating demand’s weakness. If supply breaks this level next supports will be located at 1.5000, 1.4880. However if rebound is successful nearest resistance will be located at 1.5480.

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EURAUD-H4

Wider-view, time frame W1

Since August 2012 EURAUD moves in uptrend, inside Bullish regression channel. Right now price is in a middle of that channel. You can’t rule out new lows, however direction of the main trend and support’s proximity indicate that in a mid-term upward movement should be continued.

EURAUD-W1

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