EUR/AUD Tests Channel Support with Potential Double Bottom

From forexminute.com

Bearish Channel: The EUR/AUD has been trading in a slightly declining channel throughout February. As we wind down the month, the pair is trading at the channel’s support. Let’s take a look at the charts to assess the technical outlook. Weak, Choppy Bearish Trend in Neutral Market: The 4H chart shows that price action in the EUR/AUD pair has been choppy but bearish, falling from a high at the beginning of the month at 1.4895 down to 1.4315 this week. Price just crossed under the 200-, 100-, and 50-period SMAs this week. These moving averages are moving sideways. The whole price-SMA dynamic suggests that the ... (full story)