EURAUD currency pair on 4-hour chart rebounded from 20-period moving average and is now directed toward the local low. Declines in the aftermath of potential break may push the price to the demand zone within the 1.46 level, where it’s possible to deeper reflection.
That demand zone may be significant for this pair, because as you can see in the chart below, at the end of April there was growth movement with high momentum, which emerged following the breakout of its scope.
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