EUR/AUD broke below the April trendline with the decline now testing confluent support at 1.4800/05- looking for possible price inflection here. A break lower would keep the focus on 1.4686 level, looking for a larger reaction there for guidance IF reached. Resistance now 1.4912/25 with bearish invalidation now lowered to the April high at 1.5055.

Bottom line: Rallies should be capped by today’s high IF price is heading lower on this stretch with a break / daily close below 1.48 needed to keep the near-term short-bias viable.  





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