EURAUD drops from yesterday morning and managed to break support area between 1.4295 – 1.4335 and was at levels that were last seen December 16 last year.
The closest support is seen at 1.4219 and probably in this direction price will aim . The current attitude of the market is bearish, and we can look around for the corrections of the downward impulse in search for sell opportunities.
One occasion may arise when occurs a potential re-test of the broken support area, which now represents resistance. A withdrawal to 20-period SMA can also be a area to spot a good sell signal.