EURAUD recently reversed down sharply from the resistance area lying between the key round resistance level 2.0000 , upper monthly Bollinger Bandand the resistance trend line of the monthly up channel from January. The downward reversal from this resistance area stopped the earlier multi year upward impulse sequence from the start of 2017. Given the strength of the before mentioned resistance areaand the strong bullish Australian dollar sentiment seen across the markets today-EURAUD is  likely to  correct down further toward the next support level 1.76000.