We may have a potential set up on the EURAUD daily time frame based on simple horizontal support and resistance. The 1.50000 area has been a key pivotal zone constantly reversing its roles from support to resistance, and visa versa. If complimentary bearish price action, in the form of a BEOB, then we could see price move to the next major support level of 1.45000. Though it will be a bumpy ride down with lots of minor support levels to get through.