EUR/AUD: Looking constructive again
As you probably know, I’ve been bullish EUR/AUD for some time now and this strategy has been very good to me. Based on the attached picture, I’ve gone long again. I can say with some degree of comfort that I am wrong if the market breaks below 1.4300. These are the trades I like, with clear stop-loss levels.
From a market perspective, EUR has broken higher against the JPY and the CHF and is close to support levels against the GBP. This gives me some added confidence.
From a fundamental perspective, I’m hoping that today’s Australian CPI goes the same way as Monday’s PPI and is softer than expected.