The Currency pair is trading in a range at lower levels. The pair is consolidating between 1.56720-1.55784, we need to wait for the security to break beyond this level, if the Index is able to break on either side according to that we will suggest to take position.

If the breakout is on the upside the security has to close above 1.56720 wait for the daily  candle to close above this level, if it is able to close above the mentioned level start buying. If the RSI is trading above 73 ignore the breakout.

If the breakout is on the downside the Index has to close below  1.55784 levels, wait for the candle to close below the level, if it is able to close below the mentioned level start selling.

EUR/AUD

Jan 03 2022