EURAUD has reached a significant resistance zone, marked by prior price rejections, suggesting strong selling interest. This area has previously acted as a key supply zone, increasing the likelihood of a bearish reversal if sellers regain control.If the price confirms resistance within this zone through bearish price action (e.g., wicks or rejection candles), we could see a move toward 1.66260, which aligns with a logical target based on recent structure.
However, if the price breaks and holds above this resistance area, the bearish outlook may be invalidated, potentially opening the door for further upside.
Just my take on support and resistance zones—not financial advice. Always confirm your setups and trade with solid risk management.
Best of luck!
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