On the EURAUD currency pair, we have a bearish setup today with the price retracing to the 61% Fibonacci level. This occurs within a fair value gap, confirmed by the M15 and H1 timeframes, and inside a supply zone with volumes in H1 pushing the price down. The target is located in the 1.6163 area. However, the trade carries a certain risk as important economic announcements are expected in Australia tomorrow morning. It would be fantastic if you could share your opinion and leave a like to support our work. Greetings from Iccola, the CEO of Forex48 Trading Academy.