The EURAUD dual Inside Bar's discussed in yesterdays post have now broken during the last session to the downside. During the session the EURO was flattened across the board with many pairs selling off aggressively.
On the daily chart of this pair we can see the that the lower support we spoke about in yesterday's post has now been broken. Traders can look for price to possibly retrace back up to this old support, and to watch to see if it holds and new resistance. To read yesterdays post see here: EURAUD Dual Inside bars
Should price action present at this new resistance area we could see the next leg of a downward push much lower.
EURAUD DAILY CHART – 7 DEC 2012
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