EUR/AUD: Correction To Extend; Not Targeting A Specific Buy Level Yet – NAB

NAB FX Technical Strategy Research anticipates a further downside correction in EUR/AUD over the coming weeks.

This is a high probability outcome. While we see this correction bottoming out between 1.42 and 1.46 we do not wish to target a particular  level to buy.

We will watch the market closely once  our minimum downside target is achieved at 1.4616  for price and momentum triggers that confirm a high probability MT low. Subsequently we target new 2017 highs (1.5227+),” NAB argues.

EUR/AUD is trading circa 1.4705 as of writing. 

Source: NAB Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews

from Online Forex Trading Resource
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