Nick Nasad
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EUR/AUD - Will 1.50 Provide Resistance?

After a ferocious rally over the last 2 weeks, is it time for the EUR/AUD to catch its breath, or even retrace?

  • The 1.50 level is an important barrier.
  • Not only is it a psychologically important whole number, it was also a level where previous rallies in the pair turned back on 2 previous occasions (in early August and in late August).
  • If we do wind up having a correction here, some levels to the downside could be 1.4850 and 1.4710.