EURAUD experienced decline from its previous high of 1.7060

EURAUD pair is being traded at 1.6520. It has recently experienced a decline from its previous high of 1.7060 and is expected to continue moving down until it reaches its up-trend support level.

If the pair is able to maintain its position at this level of support and displays respect for it, we will initiate a long position. As a result, the price is predicted to ascend towards its up-trend resistance level.

In case, up-trend support level is broken due to increased selling pressure, the price will likely continue to decrease until it reaches its next support level at 1.5920.