EUR/AUD Will Probably Continue Falling

EUR/AUD reached a high at 1.5770, but the pair bounced off from that level after after forming a clear shooting star candlestick on the weekly time-frame and then a hanging man candlestick also on the weekly time-frame. Currently the pair is testing the support at 1.5470 and considering the two aforementioned candlesticks it will probably break out below it. If that happens it will probably continue moving to the downside towards 1.5220, which is the (MA)89 indicator on the daily time-frame. A breakout below that support could lead to a further move to the downside towards the support at 1.5150.