EURAUD has been in an ascending channel for quite some time now, however we see strong resistance at its current level. Although this is not a strong enough confirmation of a reversal we will most likely see another bearish move to the major Fib levels shown in the chart. if we see a continuation of the bearish movement and closure bellow the 61.8% fib and especially if we see closure bellow the major key level we could see a reversal on EURAUD.
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