Analysis by FXRenew
EUR/AUD is forming a head and shoulders on the 2H charts. With our fundamental short EUR bias, and our belief that Aussie is oversold on many time frames, we feel that this strong technical pattern has a good possibility to play out for a few days. The second shoulder completed at 1.2783 yesterday, and right now it is in the middle of the neckline and second shoulder. We are looking to enter short on any bounce.
