EUR/AUD: 4-hour
Check out this potential break-and-retest play on EUR/AUD! As you can see on the pair’s 4-hour forex time frame, price made a strong break below the 1.4400 major psychological support then dipped to a low of 1.4212 before bouncing back up. Price appears to be making its way back up to the broken support zone, which lines up with the 50% Fibonacci retracement level and might act as resistance moving forward. Stochastic has already reached the overbought zone, indicating that a selloff might take place soon.
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