EUR/AUD - Euro Australian Dollar, European Session - 29/04/08

  @ibtimes on

1,6716. EUR AUD is in an downtrend directed by 4H exponential moving averages. EUR AUD is in a consolidation after the last bearish movement. EUR AUD is in a range between 1,6630 and 1,6770. The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances
1,6740 - 1,6770
Supports
1,6680 - 1,6630

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