💱 EURAUD - Rebound from downtrend resistance
EURAUD does not pass through the resistance of the downtrend, consolidation is formed, which prepares the currency pair to fall.
Prerequisites for further decline:
1) Euro is in the weak market phase and continues to decline.
2) A descending channel is marked on the chart, the price is bouncing off the trend resistance
3) Consolidation below 1.66166 forms a sell signal.
4) If 1.6574 is broken, further decline to 1.6456 will begin to form.
Key support: 1.6574
Key resistance: 1.66166
Prerequisites for further decline:
1) Euro is in the weak market phase and continues to decline.
2) A descending channel is marked on the chart, the price is bouncing off the trend resistance
3) Consolidation below 1.66166 forms a sell signal.
4) If 1.6574 is broken, further decline to 1.6456 will begin to form.
Key support: 1.6574
Key resistance: 1.66166
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