EURAUD is currently showing signs of a bearishEURAUD is currently showing signs of a bearish trend continuation. Despite short-term upward movement driven by optimism around the ECB, the overall structure remains vulnerable to downside pressure.
The European Central Bank (ECB) is expected to keep interest rates unchanged, potentially ending a seven-year streak of cuts. While this could bring temporary strength to the Euro, the technical setup still favours the bears.
Watch for a Break Below the Neckline
If price manages to break below the neckline of the current pattern, it could trigger a strong bearish move. First support: 1.77100 Second support: 1.76300
You May find more details in the chart.
Ps: Support with like and comments for more analysis.
