Mihai_Iacob

EurAud- Drop to 1.63 zone again?

Short
FX:EURAUD   Euro / Australian Dollar
Two weeks ago I warned about the possibility of a drop to the 1.63 zone for the EurAud pair.
Indeed, the pair dropped, recovered quickly though, and got back above 1.65 again.
However, looking at the daily posted chart, we could see that 1.66+ is a very strong ceiling and the pair keeps reversing from above that figure.
At the time of writing the pair is flirting again with the 1.65 zone and we could have a break down soon.
That being said, I'm bearish EurAud as long as the price is under 1.66+ and I expect another drop to 1.63


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