Potential Long Upon Breakout of 1.4902 Level

1.4870 - 1.4902 seems to be an important support zones for this pair. Based on the chart, we can see this zone has been a good support zone throughout September, and the support may be continue. If it breaks 1.4902 level, I believe it may potential roam to 1.4980 level, as a previous resistance level. It is, at the moment, very clear that EURAUD is in range trade (contradicting direction for all MA(20), MA(50), and MA(200)), so better to have a smaller size when entering the trade.

Commentaire:

And so far it is moving according to plan. Next important level will be at 1.49800. If the price can close above 50 period moving average, then potentially, 1.49800 resistance level can be broken too.