EURAUD in developing the C leg
Technical point of view
EURAUD is currently in developing its C leg with its running/expanding flat pattern; the watching levels for EURAUD in this current C leg are in three levels to consider:
In case the price levels at 1) and 2) would be stopped there, then the pattern of running flat is defined for this case. For the lowest price level at 1.5250 will be recognized as expanding flat pattern. We stay with short for EURAUD in this scenario and profit taking levels will be kept watched over the time to make further decision. As it is in D1 TF and H4 TF analyzed, hence the trading term to hold that short position will take a bit long time to develop.
Take your look at the depicted chart for more details.