EURAUD facing strong resistance, potential upcoming drop!
EURAUD is testing major resistance at 1.5423 (50% Fibonacci retracement, horizontal swing high resistance, bearish descending channel) and a strong reaction could occur at this level to push it down towards 1.5310 support (50% Fibonacci retracement, horizontal pullback support).
RSI (34) sees a descending channel signaling intermediate downside pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) sees a descending channel signaling intermediate downside pressure.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results