FX.co ★ vbahringer | EUR/AUD

Hello traders. The situation on the EURAUD pair is as follows. The price on the H4 chart continues to trade below the Ichimoku cloud, indicating a bearish impulse. This suggests considering a short position. The Stochastic indicator is in the oversold zone. During the last trading session, the pair continued to move south, with players managing to hold near the reversal level. Bears have continued the decline and are currently trading at 1.7849. The intraday targets for selling are the classic Pivot support levels. I assume that the downward movement will continue from current levels, and a breakthrough of the first support level at 1.7751 will lead to a new wave of decline and further movement south below the support line around 1.7641. However, if buyers return to the market, their reference point at the current chart segment will be the resistance level at 1.7957.