EURAUD 4hr - Bearish Setup After Retest

Chart Insight:
EURAUD is forming a descending triangle, with lower highs and a solid horizontal base. Price rejected from a confluence zone: trendline + former support turned resistance (supply zone). A drop is expected if price fails to reclaim 1.7550.

Technical Highlights:
• Triangle formation shows pressure building.
• Supply zone rejection at 1.7550
• Clean market structure shift from bullish to distribution to bearish.
• Liquidity Targets: 1.7095 and possibly 1.6700.

Fundamentals:
• EUR Weakness from ECB dovish stance and weak growth outlook.
• AUD Strength Potential tied to commodities and better inflation handling.

Trading Plan:
• Sell on rejection at 1.7500–1.7550
• SL: 1.7827
• TP1: 1.7095
• TP2: 1.6700

Price rejecting trendline + supply after clear lower highs. A bearish continuation may follow into 1.7095 then 1.6700 if the rejection holds. Structure, confluence, and macro bias all align.

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