The EURAUD is in a downtrend (60min chart) and is currently under a retracement.
The retracement was expected since last week we observed positive/ between price and indicator.
This can mean two things;
A. There will be a change of trend.
B. There is a pause/ recovery before continuing with the downtrend ( Preferred scenario)
Currently price is testing key resistance of:
Price level 1. 44 .
Top hourly cloud.
This is a good place to add some shorts with first target 1.4320