EUR/AUD, 'consolidation' between 1.42 and 1.47!

eur-aud 26.11.

After September 12., EUR/AUD is moving between 1.42 and 1.47., literally in a few pips with support/resistance levels. After several days of wild roaler coaster, triple bottom at 1.4200 boost the pair up strongly, and finaly catch 1.47 today, for the second time in this two months period. For now, the pair is rejected again from 1.47 and slightly slide back to 1.4640/50, but it seams like the bulls still have control. They must brake this level and close above 1.47, if they want to push the pair higher to the next resistance at 1.4900. Can they do it? Not today as I see!? Previous down trendline is now support and this could be the support/test for the bulls if the pair slide back. If they defend that line, furder gain up toward 1.4900 is possible.


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