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Short

EUR/AUD breaches trendline support, 1.4965 likely target

FX:EURAUD   Euro / Australian Dollar
276 1 9
EUR/AUD             has breached strong trendline support at 1.5070 after 3 weeks of the choppy range trade.

Price action is well below the cloud, Stochs have shown a bearish crossover and rolled-over from overbought levels, RSI on dailes and weeklies is biased lower.

5-DMA at 1.5115 is immediate resistance on the upside, while support is seen at 1.5032 (Dec 17th low).

Retracement upto 1.4964 which is 38.2% Fib of 1.4348-1.5343 rise looks likely, further downside could see 1.49 levels.

We would sell rallies around 1.5070 levels, SL: 1.5120, TP1: 1.4965, TP2: 1.49
Trade closed: target reached
Looks good to me.
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