EUR/AUD – Will it break
Bearish: We are currently @ 1.6365 in a range and the top looks like it is in. IF we can break this support, we are looking for a continuation to the ATR target @ 1.5239 with a further target the 1.000 Fibo @ 1.6224. Watch the USDX for direction. The average daily true range (ATR) for the pair is 144 pips per day and it’s 180 day average is 140 pips per day. USDX is currently moving up.