EURAUD starting to breakdown, watch for a potential plummet!
EURAUD has finally broken our major support-turned-resistance line at 1.5639 (Fibonacci retracement, horizontal overlap resistance) and a strong drop could occur from here that could push price all the way down to 1.5494 (Fibonacci retracement, horizontal pullback support).
RSI (89) is still holding well above our ascending support line and only a break of this would add further bearish momentum to our setup.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is still holding well above our ascending support line and only a break of this would add further bearish momentum to our setup.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results