EUR/AUD Long-Term Trend: Bearish
Key Resistance Levels: 1.4410, 1.4469, 1.4528
Key Support Levels: 1.4278, 1.4210, 1.4169
The price on the higher time frame has been in a downtrend for the last few weeks and it is showing good momentum. Recently the pair did a pullback and faced rejection at the 1.5293 level. It has broken a level of 1.4381 and sustained below that 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 recently broke the lower range of 1.4469 after consolidating for some time. It has also broken and retested another minor level of 1.4410 before continuing the momentum.
Sell Stop Order @ 1.4359
TP 1 @ 1.4286
TP 2 @ 1.4213
Stop Loss @ 1.4432
Trade Safely 🙂