EURAUD: Triple top

EURAUD, Daily

In the Daily timeframe, EURAUD has formed a triple-top pattern and is testing critical resistance. The price crossed the upper Bollinger line, and Stochastic is overbought, which makes two scenarios possible:

• If EURAUD breaks the resistance at 1.6470, the upside will start at 1.6630;

• A rebound from the resistance will fall back to 1.6280;