The EUR/AUD currency pair is currently showing signs of further downside movement. The prevailing trend remains bearish, as indicated by the downward-sloping trendline, with no significant signals of a reversal to the upside.
This bearish outlook is further supported by the formation of a double top and a swing high, both of which are classic technical patterns that often indicate continued weakness. As long as the price stays below key resistance levels, selling pressure is expected to persist.
- Recommendation: Sell EUR/AUD
- Entry: 1.77950
- Take Profit 1: 1.77550
- Take Profit 2: 1.77150
- Stop Loss: 1.78350
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