This pair is still in an uptrend looking weekly and daily chart.

euraud

So based on that, if you are trend trader, you should look for long entry only. Now price is coming back to interested hot spot, horizontal support 1.5500 and trend line intersection. Daily Stochastic is still pointing down and it is not in oversold territory yet, so based on that, price still could go a bit lower. A bit bellow of support there are also WS2 and MM1 pivots in case that price will overshoot 1.5500 a bit. So these are levels to pay attention to.

There is no major red news in EU or Australia in future 24 hours.

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