EUR/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.4699, 1.4795, 1.4912
Key Support Levels: 1.4602, 1.4550, 1.4482
The price on the higher time frame has been in a downtrend for months and recently it did a pullback. The pair faced resistance at the 1.5293 level and reversed from there. A trendline and a minor support level of 1.4769 has been broken which indicates a bearish bias.
EUR/AUD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price has been trading between a range of 1.4913 and 1.4796 for some time and the lower range was broken. A minor level of 1.4699 has been broken and retested before continuing the momentum.
Sell Stop Order @ 1.4666
TP 1 @ 1.4607
TP 2 @ 1.4489
Stop Loss @ 1.4725
Trade Safely 🙂