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EURAUD rejects new trend highs.

Short
Euro / Australian Dollar (FX:EURAUD)  
ForexAnalytix  
FX:EURAUD   Euro / Australian Dollar
Trend Analysis EURAUD euraudshort
4
0
trendanalysis euraud euraudshort
The EURAUD reversal from new trend highs is pretty spectacular. First of all, this is a bearish engulfing candle. Secondly, we rejected the 161% Fibonacci extension of the last move lower in May. Third, the 78% retracement of the 2019 range was also rejected. Lastly, a horizontal level from mid 2018 was also respected. The risk for this pair is lower near term.
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