Euro / Australian Dollar
Short

EURAUD ! False breakout of strong resistance

295
EURAUD is forming a sideways range between 1.48 and 1.456. After returning to the lower range, the instrument forms a distributive movement until resistance, I don’t think that there is energy left to continue moving up

We see a false breakout and we need to wait for the level to consolidate for the price to fall.

I guess
that EURAUD may fall after a false breakout. The trend is down and therefore the pressure from above is higher, the key mark for the target is the lower limit of the range - support 1.456

Sincerely, R. Linda!

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