EURAUD-Breakout opportunity

Note: ADP was positive USDX positive

Bullish: We are currently @ 1.5554 after testing the resistance to the upside. IF we can break resistance here, we are looking to continue to the ATR target @ 1.5659 with a further target the 1.000 Fib Extension @ 1.5688. Watch the USDX for direction. The average daily true range (ATR) for the pair is 156 pips and it’s 180 day average is 154 pips per day. USDX is currently up.

Posted to Introduction to Forex Targe… on Jan 05, 2023 — 8:01 AM

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