FX:EURAUD   Euro / Australian Dollar
A nice Butterfly pattern is trying to get to the finish on 1H EURAUD             . Price action is currently testing a support @ 1.53607. If the level gives there are 3 nice levels with previous structure lows to determine an ample Possible Reversal Zone. The possible XA extensions @ 1,27, 1.414 and 1.618 range from 1.52970 to 1.52125. What is interesting is that the support being currently tested is a nice target to test as a resistance once the pattern finishes. Watch the price action near the PRZ to make entry as well as the RSI to suggest oversold and long entry.
Comment: Price action has entered the PRZ. Awaiting for candle reversal at one of the 3 previous structure lows.
Comment: And there it is @ the 1.414 ext.
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