EURAUD Range Shift Ends with Support Breakdown
EURAUD was moving upward and experienced a Range Shift, where the support level gradually moved higher. However, after repeated tests, the support level failed, and the price broke below it, indicating weakness in buying pressure. Now that the support is broken, it has turned into resistance. Before continuing downward, the price might retrace back up to test this new resistance level. If the test is successful, meaning the price rejects and fails to move above, it signals further downside movement.
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.