EUR/AUD - Euro Australian Dollar, European Session - 06/03/08

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1,6347. EUR AUD is in an uptrend supported by 1H exponential moving averages. EUR AUD is in a consolidation after the last bullish movement. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,6300. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances
1,6380 - 1,6435
Supports
1,6300 - 1,6220

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