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EURAUD starting to breakdown, watch for a potential plummet!

Short
Euro / Australian Dollar (FX:EURAUD)  
Tickmill Broker  
FX:EURAUD   Euro / Australian Dollar
Trend Analysis Harmonic Patterns Chart Patterns EURAUD EUR aud euraudshort euraudlong euraudanalysis euraudsell euraudbuy euraudbreakout
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trendanalysis harmonicpatterns chartpattern euraud eur aud euraudshort euraudlong euraudanalysis euraudsell euraudbuy euraudbreakout
EURAUD has finally broken our major support-turned-resistance line at 1.5639 (Fibonacci retracement, horizontal overlap resistance) and a strong drop could occur from here that could push price all the way down to 1.5494 (Fibonacci retracement, horizontal pullback support).

RSI (89) is still holding well above our ascending support line and only a break of this would add further bearish momentum to our setup.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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