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Broken Trendline On EUR/AUD Indicates More Weakness To Follow

Broken Trendline On EUR/AUD Indicates More Weakness To Follow

EUR/AUD dropped below a trendline support connected from 1.4072 which suggests that corrective rally is finished. As such, we can see weaker EUR in sessions ahead after a wave two bounce which may look for a resistance near 1.4400 area. Invalidation level is at 1.4490; as long this one holds, trend is down.

EUR/AUD, 1H

EUR/AUD Hourly Chart

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