The Australian euro in the near term
On the fundamental side
The Australian euro pair fell on Friday for the second day in a row, in light of the scarcity of economic data from the eurozone and also the Aussie.
On the technical side
The pair rebounded from the resistance and downtrend levels over the four-hour period, trying to target the 1.7470 levels as an initial target and then the 1.7400 levels.
This scenario fails if the pair breaks through the levels of 1.7590 upwards, at which time we are waiting for a larger upward correction to try to sell the pair again from higher areas.
