EURAUD: Bears charging at strong resistance
The daily chart of the EURAUD pair presents some signs of pause for the bullish movements started in the 1.3670 regions.
Struggle around the median line of Pitchfork channel continues for the consecutive fifth day, while buyers are booking profits near the tough resistance –colored in blue- as seen on the provided graph.
In the interim, Stochastic reflect the weak momentum, attempting to get out from overbought territories, while +DI started to move slightly downwards, as the trend is slowing down.
Consequently, we prefer selling the EURAUD, chiefly targeting 1.4450 and 1.4360 respectively. On the other side, 1.4780 should act as a ceiling for bears.