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EURAUD: Next Leg Down to Materialize Below 1.5600
It’s been nearly two weeks since I last discussed the EURAUD, so I figured it’s time for an update. And although the pair hasn’t gone far since then, there have been a couple noteworthy developments. But first, I want to revisit the breakdown that occurred on August 3rd. If you’ve been following along these last few weeks, you no doubt remember the range that developed between 1.5720 support and 1.5880 resistance. The Euro cross bounced between those two levels for five weeks before succumbing to selling pressure earlier this month. Once support at 1.5720 gave way on August 3rd, I mentioned how the area would ... (full story)