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Technical analysis of EUR/AUD for January 13, 2016

Following my previous EURAUD analysis, the pair continues trading near the support level S1 (1.5475) and yet no daily close was below that level. As price hasn't reached the target at R1 (1.5900) and hasn't broken (closed day) below the S1 support yet, consider buying EURAUD at the current level. The stop loss should be placed slightly below the most recent high. Alternatively, the exit signal could be the daily close below 8th of January low.

Support: 1.5475

Resistance: 1.5900

EURAUD_INSTA.png

The material has been provided by InstaForex Company - www.instaforex.com