EURAUD recently broke out of trend line Resistance last week, but if you check out the daily chart you can see the last 3 days have all had rejections form Aprils high @ 0.618 , swinging above yet failing to close above on all 3 days, seems weak from the bulls.
Stoch 55,5,3 is at resistance of 93 and RSI has big divergence on the 4 hour.
The concerning aspect of a short in this spot is the high bullish volume bounce trying to turn the trend line resistance into support, apart from that everything else points to bulls tiring.
Makes sense to observe Mondays action on whether EURAUD fails to turn this trend line into support !!!
Stoch 55,5,3 is at resistance of 93 and RSI has big divergence on the 4 hour.
The concerning aspect of a short in this spot is the high bullish volume bounce trying to turn the trend line resistance into support, apart from that everything else points to bulls tiring.
Makes sense to observe Mondays action on whether EURAUD fails to turn this trend line into support !!!