Recently, we were eyeing the 1.7085 support level whether we see a breakthrough or not. We can see that EURAUD have officially broke that strong support line which will eventually be a strong resistance level for this pair. (Red Circle) What I will be seeing for now is a retracement back to the resistance level which will be the ideal level for a short trade. We can see EURAUD heading towards its old trend line which it broke months ago. For now, I will see the price level heading for 1.6560 support level which will potentially test the old trend resistance line (Bold Line) followed by a movement to the old trend support level. Subjected to changes and do follow us for latest updates on this pair and other analysis.
