The EUR/AUD currency pair has changed the bullish movement into a down trend in one hour time frame and now it is a bearish trend. Short term resistance is present at 1.4015 price level. Since yesterday, the EUR/AUD currency pair is moving down and this looks like a weak bearish leg. As long as price movement looks bearish, I would be probably looking for sell trades. If bullish candlestick closes above 1.4015 critical resistance level then down trend is going to end. In such situation, I would avoid trading and just keep re-analyzing the price movement.
