EUR/AUD: Channel Resuming

Bearish

USDX has finally made the turn and is bearish and committed at the time of this post. EUR/AUD is in a channel so we should now see the resumption of the channel to the downside.

We are looking for a continuation to the ATR Target at the 1.5856/49 area. Watch the USDX for any change in direction. The ATR for the pair currently is 92 pips per day and it’s 180 day average is 93 pips.

EUR/AUD Continuation

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