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Euro / Australian Dollar
Short
Updated

EURAUD at Key Resistance: Bearish Bounce Expected

EURAUD is trading near a significant resistance zone, characterized by historical price rejections and strong selling pressure. The current market structure indicates the potential for a reversal if sellers regain control at this level.

This resistance zone aligns with a key supply area, suggesting that bearish pressure may emerge. If price confirms rejection with bearish candlestick patterns or signs of exhaustion, I anticipate a move downward toward the 1.66105 level.
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Trade closed: target reached
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DanieIM
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DanieIM

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