EUR/AUD– Makes the turn back up

Mar 20, 2023

Bullish: We are currently @ 1.5082 after making the turn. We are in a range and a channel. We are looking for continuation to the ATR target @ 1.6050 area with a further target at the 2.618 Fibo @ 1.6118. We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 143 pips and it’s 180 day average is 147 pips per day. USDX is currently moving down.