EUR/AUD – 4H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
The bearish trend down to the next support line at 1.61583 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.65998 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.628295 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 1.65998 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.65998 |
| Current Price | 1.63890 |
| Next Low | 1.61583 |
| 2nd Low | 1.59661 |
| 3rd Low |