EURAUD under bearish pressure after the earlier sharp downward reversal from the round resistance level 2.0000. The downward reversal from this resistance level created the weekly Japanese candlesticks reversal pattern Shooting Star Doji standing well outside of the upper weekly Bollinger Band (strong sell signal). Given the strength of the resistance level 2.0000 and the overbought reading on the weekly RSI indicator – EURAUD is likely to fall down further toward the next support level 1.75000 (target price for the completion of the active corrective wave 4).
