I took this nice trade yesterday after watching this pair for a while now. With the weakening euro and the appreciating australian dollar mixed with the technical analysis, I had no other choice but to enter into this trade. The daily chart shows us a perfect rejection of the 61.8 fib level and a break of the trend which should lead to a massive drop over the next few days or even weeks. The first target should be 1.5900, which is a huge consolidation zone and the 61.8 fib reversal level. If the pair is able to dive even deeper, we could see it retest its lowest level of the year. Let's see what the markets have in store for us...