EUR/AUD: Perfect set up for rounding top pattern

Aug 2 , 2018


By looking at the daily chart we can see that  earlier pair was trading and moving in uptrend and was making successively higher highs and higher lows on daily basis but after arriving near 1.5860 the demand of pair was over but still it did not decline and holding the nearby region since 26 June 2018. From technical prospective we can see that the present set up has been made up for rounding top pattern where it just need a flow of news to crack down. A small downfall below 1.5700 level will push it further downside and bearish storm may come below that level.

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