Bearish
EUR/AUD tests 1.61 support amid bearish technical outlook
Over the past 24 hours, EUR/AUD has been testing the 1.61 support level, indicating potential bearish momentum. Technical analyses suggest that the pair is forming a descending triangle, a bearish continuation pattern, with a possible breakdown below 1.6090, targeting 1.5968 and 1.5850.
Key points
- Bearish technical pattern: EUR/AUD is forming a descending triangle, suggesting potential downside.
- Support level under pressure: The pair is testing the 1.61 support, with a possible breakdown below 1.6090.
- Potential downside targets: If support fails, targets include 1.5968 and 1.5850.
Sources
AI-generated from public news sources. Not financial advice.
