EUR/AUD – 1H – SELLThe currency pair jumps from the ascending trendline downwards
A bearish trend downwards to the next support level at 1.60642 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.62507 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 1.61166 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support line at 1.62507 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64295 |
| 2nd High | 1.63208 |
| Next High | 1.62507 |
| Current Price | 1.60763 |
| Next Low | 1.60642 |
| 2nd Low | 1.60476 |
| 3rd Low | 1.60230 |