EUR/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.4854, 1.4940, 1.5033
Key Support Levels: 1.4597, 1.4492, 1.4417
The price on the higher time frame has been in a downtrend for weeks and we saw a pullback and then a continuation of the trend. We see the price did another pullback to the 1.4940 level and the pair continued a downtrend after facing rejection from the top.
EUR/AUD Medium-Term Trend: Bearish
In the lower time frame, the price is moving in the major trend direction. The pair is moving in a lower-low, lower-high pattern and it has faced resistance at the 1.4760 level. We see that the price first broke down and retested that resistance level before continuing the momentum.
Sell Stop Order @ 1.4688
TP 1 @ 1.4605
TP 2 @ 1.4522
Stop Loss @ 1.4771
Trade Safely 🙂