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EUR/AUD Poised To Move Lower

is currently bearish (but in a pullback) at the time of this post. We are currently at 1.5958 in a descending wedge (bearish) in a range.

We are looking for an initial move to the ATR target at the 1.5750 area. Watch the for any change in direction.

The ATR for the pair currently is 140 pips per day and its 180-day average is 123 pips per day.

EUR/AUD 4-hour price chart.

EUR/AUD 4-hour price chart.

Trading analysis offered by Complex Trader - a RobotFX partner.