EUR/AUD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
EUR/AUD is trying to break pattern's resistance, opening the road to a recent high at 1.5827. Nevertheless, after an attempt to break 1.5500 level, bulls refused going any higher and the moment of writing the pair was trading at 1.535, bounded by a 200-period SMA and a weekly PP. Dukascopy traders, however, are making their bets the pair will try to reach strong psychological level and a weekly R1 at 1.5500. More than 57% of traders are holding long positions, while 60% of pending orders in a 100-pip range are placed to buy the single currency versus the Aussie. In case 1.5500 is breached, long traders will aim another weekly resistance at 1.5675.
© Dukascopy Bank SA
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