EUR/AUD - Euro Australian Dollar, Asian Session - 29/01/08

 @ibtimes
on January 29 2008 4:39 PM

1,6615. EUR AUD is in a consolidation after the last bearish movement. EUR AUD is in a range between 1,6500 and 1,6900. EUR AUD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,6500 / 1,6900 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances
1,6665 - 1,6750
Supports
1,6600 - 1,6500

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