Thursday, April 16, 2009
EURAUD hits temporary bottom
EURAUD seems to have hit a temporary low. Looking at the daily charts, EURAUD has beeen having a downward traversal for the past several days with the strength of AUD and the weakness of EUR. Now, the strength of AUD seems to have tapered off with it facing strong resistance at 0.8324 and hence EURAUD now has some strong temporary support at around 1.81. With all this, we can see that EURAUD has a chance of going upto 1.85 and once it reaches there , we need to re evaluate its strengt
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