EURAUD is basing
EURAUD has reached 1.600 after the huge pullback from March high. The pair is testing the 1.6600 for a complete upside breakout. For a downside continuation and higher probability short trade entries, we need to see a break below 1.6000. EURAUD reached previously 1.9800 and pulled back to 1.6000. The overall long-term is an uptrend and a confirmed break above 1.6580 will lead to an extended continuation to higher.
Note – We are inclined to long trade entries with the stop loss below 1.6300 and preferably upon a break above 1.6580
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