Looks like a possible range in progress with solid support in an uptrend, but strong selling pressure at the nearest resistance zone. I will play this pair as a range until breakout is established and tested.
The weekly time frame of the EUR/AUD has shown a particularly strong move to the downside over the last few weeks and it does appear that a weekly trend reversal is now on the table. I plan on holding this position until the S1 to S2 pivot is reached.
