On the EURAUD chart, we can see that the instrument is going for a break below the small rising wedge formed in the last days just close to 61.8% of the Fibonacci retracement of the last swing down. The pullback in the pair could not still be over and by breaking the wedge we could see an extension lower into the 1.5800-1.5900 zone.
Note: look for the short trade entries with a stop loss above the 1.6250 level.
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