EUR/AUD - Euro Australian Dollar, American Session - 09/06/08

 @ibtimes
on June 09 2008 5:49 AM

1,6427. EUR AUD is in an uptrend supported by 15min exponential moving averages. EUR AUD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR AUD. The uptrend should continue on 1,6500 (75 pips) resistance. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances
1,6430 - 1,6500
Supports
1,6350 - 1,6300

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