EURAUD facing strong resistance, potential upcoming drop!

EURAUD is testing major resistance at 1.5423 (50% Fibonacci retracement, horizontal swing high resistance, bearish descending channel) and a strong reaction could occur at this level to push it down towards 1.5310 support (50% Fibonacci retracement, horizontal pullback support).

RSI (34) sees a descending channel signaling intermediate downside pressure.

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