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Looking to Buy EUR/AUD

Looking to Buy EUR/AUD

Joel Kruger, Technical Strategist

This market is trading by +20 year lows and is very close to retesting the record lows from 1989 down by 1.2500. Short-term medium-term and longer-term studies are all looking stretched and we will look for an opportunity to buy once the 1.2500 level is taken out in anticipation of a major correction and eventual bullish trend reversal.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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