On the EURAUD chart, we can see that the pair is reaching 55 WMA 1.5649 level. This is now a strong upside resistance and also a downside support. This level needs to hold for a downside continuation. If it will be broken to the upside we could see a deeper pullback into the 1.5700 level.
Note: look for the reaction here and for a possible short trade entry on a bearish price action.
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