Recent Aussie weakness saw the Euro rally furiously. Price is now back to the upper end of the price channel.
Comparing to Stochs, there seems to be a 'Hidden Bearish Divergence' in play here?
However, if price declines, 1.40505 is now a strong support level. If it holds declines, then EURAUD could push higher. I expect this to be tested next Tuesday during RBA's meeting.
A break below 1.40505 will then see 1.37283 being tested.
Comparing to Stochs, there seems to be a 'Hidden Bearish Divergence' in play here?
However, if price declines, 1.40505 is now a strong support level. If it holds declines, then EURAUD could push higher. I expect this to be tested next Tuesday during RBA's meeting.
A break below 1.40505 will then see 1.37283 being tested.
