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EURAUD looking for sell at Supply Zone
Based on the chart, it is evident that EURAUD is breaking its previous upward trend, which is referred to as the CHoCH (Change of Character) pattern. The currency pair has created some liquidity and subsequently breached it. Currently, it is attempting to retest the supply area at the 0.786 Fibonacci level. Additionally, it is worth noting that the 0.786 Fibonacci level coincides with a supply zone and a previously broken resistance area.
Considering this information, it would be beneficial to adjust the timeframe to identify an entry point if EURAUD reaches the supply zone area.
Considering this information, it would be beneficial to adjust the timeframe to identify an entry point if EURAUD reaches the supply zone area.
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