Technical Analysis

EURAUD: Bat in progress presenting bearish setup


By examining the weekly chart of EURAUD pair, we can observe the Fibonacci rhythmic that created harmonic pattern probability.

The EURAUD pair is moving closer to its highest level in more than 2 years; however, the weakness appearing on RSI along with the harmonic bat possibility offer short opportunity.

Technical targets reside around 1.59 regions, while 1.66 should remain intact to keep the pattern valid.

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