EURAUD currency pair on the hourly chart is moving in downtrend, which is currently made up for the losses that occurred last Friday.
On a chart is visible divergence between price and RSI indications, and the price once again coming to downtrend line. If there is a rebound from the line and price closes well below the 20-period SMA, there are likely to further landslides.
This scenario becomes invalid after close above the trend line and above yesterday’s peak.
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