Option for today is a series of analyses for binary options in cooperation with the BDSwiss broker. Every day we present the best options PUT or CALL for selected financial instrument with its current technical analysis.
Although the EURAUD currency pair did not get close to any significant support in previous week, after the Tuesday review of the Reserve Bank of Australia (RBA) monetary policy meeting, we observed a strong AUD depreciation, which translated into dynamic EURAUD growth.
As a result of these gains yesterday the market was in vicinity of a very significant resistance 1.4300, where we can see weakening of demand dynamics. This means that in near future this level may be discarded. If this happens, we could expect at least a downward correction and its potential coverage would be around local support, which coincides with a 38.2% Fibonacci correction from the last upward movement.
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