💱 EURAUD - Rebound from downtrend resistance

8 בנוב׳ 2023

EURAUD does not pass through the resistance of the downtrend, consolidation is formed, which prepares the currency pair to fall.

Prerequisites for further decline:
1) Euro is in the weak market phase and continues to decline.
2) A descending channel is marked on the chart, the price is bouncing off the trend resistance
3) Consolidation below 1.66166 forms a sell signal.
4) If 1.6574 is broken, further decline to 1.6456 will begin to form.

Key support: 1.6574
Key resistance: 1.66166