EURAUD posted an aggressive bullish rally in the previous couple of weeks after the bounce off the 1.5580 level. However, the pair has been developing within a consolidation area since the end of January. The price trades within the upper boundary of 1.6140 and lower boundary of 1.5270. Moreover, the pair stands above the 20- and 40-simple moving averages (SMAs), which recently recorded a bullish crossover. However, the technical indicators are suggesting for a bearish movement. The RSI indicator is sloping south in the overbought zone, while the %K line of the stochastic oscillator holds below the %D line, ... (full story)