The EUR/AUD 2-hour chart illustrates a rising wedge pattern that has recently broken to the downside, suggesting bearish momentum. After a failed retest near the 1.79264 resistance (also marked as stop-loss), the price appears to be rejecting lower highs. The black arrow indicates a projected bearish move toward the lower wedge trendline, around the 1.77500 region. This setup supports a short bias unless the price breaks above the red resistance line.
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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.