At EURAUD H4 chart can be seen consolidation. This is evidenced by the EMA’s-exponental moving averages (75- and 100-periodic), which often intersect and change theirs direction. Worth noting is the last test of support at 1.4200 level, the response of demand was getting weaker.

euraudh4141216-1Actually we can see that the price for an extended period of time is below the psychological level of 1.4200.
Noticeable is also bearish reaction to these levels. Setting a lower low will probably lead to more bearish reaction. Strong support is located at round level 1.4000

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