EUR/AUD ANALYSIS

[PapiaKhatunAsha]

Looking at the EUR/AUD pair daily, it is noticeable that it is gaining some pips at the price 1.6450 level Should there be a continuous appreciation in the price, the next resistance level will be 1.6530 and the next support level will be 1.6420.

[dangtrader]

Originally Posted by PapiaKhatunAsha

Looking at the EUR/AUD pair daily, it is noticeable that it is gaining some pips at the price 1.6450 level Should there be a continuous appreciation in the price, the next resistance level will be 1.6530 and the next support level will be 1.6420.

I don't like cross pairs because they usually feature wider spreads and their movement follow price changes in major pairs. Basically I would choose pairs which include USD because country-specific factors will be those pairs to while cost of entry will be lower. Definitely not for scalping.