EURAUD - Breaks the Head and Shoulders
EURAUDEURAUDEURAUDEURAUDEURAUD - Intraday - We look to Sell at 1.6060 (stop at 1.6100)
Broken out of the Head and Shoulders formation to the downside. Ichimoku cloud support comes in at 1.5975. The formation has a measured move target of 1.5600. There is no clear indication that the downward move is coming to an end. Risk/Reward would be poor to call a sell from current levels. Bespoke resistance is located at 1.6060.
Our profit targets will be 1.5975 and 1.5600
Resistance: 1.6060 / 1.6115 / 1.6200
Support: 1.5975 / 1.5950 / 1.5600
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