Short EUR AUD

Hi Guys,

following my analysis for the EUR/AUD currency pair:

price is ranging in a tight bearish descending channel. Last week we broke through a strong price level at 1.63300 and now retesting this level again. You can see a clear rejection of 3 candles as well as a indecision candle in the 4H Chart. The volume shows a high interest of sell pressure so I am expecting the next implusive move downside to the 1.62050 price level.

Be aware of the tomorrows speek of Christine Lagarde at 11:25am. She is the president of the European Central Bank and often volatility is experienced during her speeches as traders attempt to decipher interest rate clues.

Best,

Lukas