EURAUD In a Correction

FX:EURAUD   Euro Fx/Australian Dollar
155 8 4
The down trend has stopped shy of the key support level , which is at the 50% retracement of the very-big-picture up trend; just above 1.4. Perhaps it will be hit later on, but for now market started to correct. As this correction continues, nice shorting opportunities should present themselves. Price is going to have a hard time breaking through the switchback resistance coming off the prior swing low, which happens to be just below the 0.382 resistance (around 1.42) and may coincide, given the time factor, with the bear trend line .
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