EURAUD is in a bearish flag
EURAUD is rejected from strong upside resistance 1.5865. We could see an extension lower from here and a test of the bearish flag downside resistance 1.5550. For the upside reversal, we need to see a break above 1.5865. The pair is in the medium-term downtrend and this consolidation seems bearish enough for the short trade entries.
Note: look for the short trade entry with the stop loss below 1.5800
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