EURAUD approaching pivot, potential for drop!
Price is approaching our level at 1.60835 which is in line with 38.2% level, 61.8% level and 200MA. Price could potentially face pressure and drop to support at 1.58710, in-line with -27.2% level and 200% level. is also at descending trendline resistance for further downside.
Alternatively, price may bounce to our resistance at 1.61720, which coincides with 50% level and 100% level.
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