» EUR/AUD - Euro Australian Dollar, European Session - 09/05/08

1,6373. EUR AUD is in an downtrend directed by 1H exponential moving averages. EUR AUD is in a consolidation after the last bearish movement. EUR AUD is in a range between 1,6270 and 1,6290. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. The price should continue to move in Bollinger bands. If the support is broken then the target will be 1,6200. We won’t take a position. The risk/reward ratio is too high to take a position..