EURAUD - Potential Rejection at Resistance

The EURAUD pair is approaching a significant resistance zone near the 1.67000–1.68000 range, which aligns with a prior resistance zone where the price has historically struggled to break higher. This area marks a potential point of trend exhaustion, as the market structure suggests that sellers could regain control.

If the price shows a clear rejection from this resistance zone, I anticipate a potential downward move toward the 1.65400 support level. This setup aligns with the notion of a bearish reaction after a rally into resistance.

If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments!