EURAUD Chart Technical Outlook medium-term target remains at 1.7014
The cross continues to trend to the upside after breaking the previous swing high of 1.6787.
The technical picture would suggest more buying:
- we have a measured move target for an AB=CD formation located at 1.7014.
- we have the completion of a Butterfly formation located at 1.7050.
The intraday chart highlights bespoke support located at 1.663. This is the exact swing low from Friday the 4th of April and is likely to catch any corrective dips.
