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EURAUD facing strong resistance, potential upcoming drop!

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 is testing major resistance at 1.5423 (50% Fibonacci retracement, horizontal swing high resistance, bearish descending channel) and a strong reaction could occur at this level to push it down towards 1.5310 support (50% Fibonacci retracement, horizontal pullback support).

RSI (34) sees a descending channel signaling intermediate downside pressure.

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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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