EUR/AUD is showing signs of topping out beneath the strong resistance at 1.77, with a clean lower high formation and momentum indicators weakening. A break below 1.74590 would confirm bearish continuation toward the next major support zone near 1.70709.
📉 Entry (below): 1.74590
🎯 Target: 1.70709
🛑 Stop-Loss: 1.77155
⚖️ Risk/Reward Ratio: 1.51
🔍 Confluence Factors:
Lower High Structure: Failed bullish rally near 1.77 has formed a textbook lower high.
Bearish Trendline Pressure: Price is testing a rising trendline — a break confirms bearish shift.
MACD Contraction: MACD histogram is weakening, signaling a loss of bullish momentum.
RSI Below 55: RSI failed to regain bullish territory above 60 and is flattening near the 50 level.
📉 Entry (below): 1.74590
🎯 Target: 1.70709
🛑 Stop-Loss: 1.77155
⚖️ Risk/Reward Ratio: 1.51
🔍 Confluence Factors:
Lower High Structure: Failed bullish rally near 1.77 has formed a textbook lower high.
Bearish Trendline Pressure: Price is testing a rising trendline — a break confirms bearish shift.
MACD Contraction: MACD histogram is weakening, signaling a loss of bullish momentum.
RSI Below 55: RSI failed to regain bullish territory above 60 and is flattening near the 50 level.
GODO Capital Markets
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GODO Capital Markets
Disclaimer
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.