EUR/AUD Could Move Lower
Scott Barkley | Jun 05, 2023 08:40AM ET
Note: ISM Services PMI is this AM
Bearish: EUR/AUD is currently at 1.6201 in a flag pattern (bearish) in the channel. If we can break the flag, we are looking for a continuation to the 2.270 Fibo at 1.6144 with the overall target ATR target at 1.6093.
Watch the USDX for direction. The average daily true range (ATR) for the pair is 113 pips per day, and it’s 180-day average is 146 pips per day. USDX is currently moving up.
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