Even if the volatility is low at this moment, the EUR/AUD currency pair remains into an uptrend above EMA50. A possible target may be 1.5730 (Fibo 0.38) and the second target may be 1.6056 (Fibo 0.23) in the medium long term. The strategy of “buying the dips” is recommended as long as the price is above EMA 50.
According to the 8 hour chart, the price is stuck into its range between 1.5350 and 1.5600. The MACD and the stochastic oscillator indicates the uptrend correlated with the daily chart.
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