Tickmill
Short

EURAUD starting to breakdown, watch for a potential plummet!

FX:EURAUD   Euro / Australian Dollar
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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Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
any update?
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