Today I want to share with you eur/aud support and resistance levels. The pair is in a clear range and a few days ago after failing to break the top of the range it is now headed to the bottom of it. It is important to trade in the direction of a trend or swing, so one should be looking how to short Euro against Australian dollar. Wait for rallies before you start shorting.
Let us define resistance levels:
They are: 1.2810, 1.2670, 1.2586, 1.2536
Let us look at support levels now:
They are: 1.2440, 1.2385, 1.2280, 1.2150.
As always even numbers often serve as exit areas for big boys. Have this in mind too.
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