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Short

EUR/AUD holds major trendline support 1.5465, short break below

FX:EURAUD   Euro / Australian Dollar
143 0 7
EUR/AUD             was rejected at highs by 1.5645 on Tuesday's trade and closed below 5&10 DMAs at 1.5508.

Tuesday's candle shows inverted hammer formation on daily charts . Pair trades a narrow range into the European open.

There was breach of major supports on the 4 hourly charts: 1) Trendline @ 1.5518 and 2) 4H 50-SMA @ 1.5521.

Pair is currently holding major trendline support at 1.5465, break below would see downside upto 1.5380 levels.

On the daily charts stochs roll-over seen from overbought territory, RSI is biased lower and MACD line shows a bearish crossover on signal line.

Good to go short on break below 1.5465, SL: 1.55, TP: 1.5424/1.54/1.5380
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