EURAUD is retreating near 1.5900 below the 23.6% Fibonacci retracement level of the upleg from 1.3625 to 1.6558, approaching the mid-level of the Bollinger Band (20-simple moving average) in the daily chart. Over the last month, the price has been moving sideways in the Bollinger Band within the 1.5715 support and the 1.6035 resistance. The technical structure suggests a bearish momentum as well. The stochastic oscillator printed a bearish crossover within the %K and %D lines slightly below the overbought zone, while the RSI indicator is trying to enter the negative territory. An extension to the downside and below ... (full story)