EUR/AUD – 30M – SELLThe currency pair goes from the ascending trendline downwards
A bearish descent downwards to the next support level at 1.62206 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.63530 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.622595 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support zone at 1.63530 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64597 |
| 2nd High | 1.64295 |
| Next High | 1.63530 |
| Current Price | 1.62802 |
| Next Low | 1.62206 |
| 2nd Low | 1.61096 |
| 3rd Low | 1.61029 |