Eur/Aud Consolidation Zone

FX:EURAUD   Euro / Australian Dollar
EUR/AUD  has been trading within a consolidation zone of 1.55368 & 1.54300 since the 1st of March. Wait until it breaks this consolidation before placing a trade. A violation of either the support or resistance lines could mean the continuation of the trend. EUR/AUD is currently in a downtrend and is trading within a descending trendline.

A good entry point on a short trade would be where the 1.55368 resistance line meets the  descending trendline.

Good luck trader's and may this week be profitable for you all. 🙂