EURAUD daily/4h Short

As you can see from the daily chart we have reached an area of interest (my green line). Buyers have struggled to get here and momentum is fading. We have also made a lower high, but the lows have been holding ground. This could be due to the AUD weakness we have been seeing lately. The good news is most of the AUD crosses are at areas of interest and could be a turning points.

On the 4h chart we have made a nice sharp reversal and now a lower high with struggling buyers. This is the first signs that maybe we are getting ready to roll over and start a downtrend. Due to the AUD weakness I believe we have another attempt up before we will turn and go short. I would like to see the trend line (my orange line) break and then price attempt to retest the 1.5816 handle (my green line). At this point I will be ready to pull the trigger for a short.

The only way I would change my perspective and think we could make another leg higher is if we break above the 1.5888 handle (my blue line). Anything short of that I will will keep my seller's bias.