Euro / Dólar Australiano
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EUR/AUD - 4H push to the downside

50
EUR/AUD price broke to the downside of a weekly ascending trend channel on 27th August. Since then price has bounced back up to retest the weekly trend channel. Price has now formed a lower low and has started to respect a 4H descending trend line. We are now looking for a short entry as price continues to the downside. The first target will be 1.6150 with a secondary target of 1.5775.

If price forms a higher high or closes back above the weekly ascending trend line this analysis will become invalid.

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