EUR/AUD Starting a Channel Down

2023.05.18 10:22

Bearish: is currently at 1.6275 at the start of a channel. If we can break the support here, we are looking for a continuation to the ATR target at 1.6142 with a further target the 2.618 Fibo at 1.6048 area.

Watch the for directions. The average daily true range (ATR) for the pair is 135 pips per day, and its 180-day average is 133 pips per day. USDX is currently moving up.

EURAUD – starting a channel down

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