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EUR/AUD: breakdown imminent?

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 25, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Below we have a daily chart of the EUR/AUD. Similar to the EUR/USD, consolidation is the name of the game. But within the consolidation, it looks like a new trend is emerging, at least for the EUR/AUD anyway. There are lots of factors to observe in this chart. Let’s start with the secondary indicators first. The MACD is trending lower below its signal line and is moving below zero. Meanwhile, the RSI – having already formed bearish divergence – has broken below a short-term bullish trend and

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