EUR/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.4877, 1.5025, 1.5123
Key Support Levels: 1.4629, 1.4564, 1.4436
The price on the higher time frame was trading in a downtrend after it broke the trendline and we saw retracement in the price to the 1.5325 level. The pair is continuing again on the bearish side with full momentum.
EUR/AUD Medium-Term Trend: Bearish
On the lower time frame, the price is moving in the major trend’s direction. The price is showing a strong downtrend with occasional pullbacks. The pair should face resistance at the 1.4802 level in case of a pullback. Expect the bearish move to continue.
Sell Stop Order @ 1.4739
TP 1 @ 1.4638
TP 2 @ 1.4536
Stop Loss @ 1.4840
Trade Safely 🙂