EUR/AUD Falling Channel Reversal Setup

The EUR/AUD pair is currently trading inside a well-respected falling channel structure on the 15-minute timeframe. Price action has been bouncing between a descending resistance trendline and a sloping support zone, confirming the integrity of the pattern. The pair recently rebounded from the lower boundary of the channel, indicating potential short-term bullish momentum ahead.

This setup highlights a typical channel reversal bounce, offering a high-probability trading opportunity if the pair maintains upward pressure.

📈 Bullish Scenario – Intraday Channel Rebound

• The price has touched the support line near 1.7885 and is now climbing higher.
  
• Based on previous cycles, price tends to move from support to resistance within this channel.
  
• A bounce from this level may lead to a move toward the upper channel resistance zone around 1.7960–1.7970.
  
• The blue arrows illustrate the expected zig-zag movement within the channel.
  

📉 Bearish Scenario – If Support Fails

• If the price breaks below 1.7880, it would indicate a channel breakdown, invalidating the bullish setup.
  
• Such a move could lead to fresh downside targets near 1.7850 or lower, continuing the micro downtrend.
  

🎯 Intraday Trade Plan

• Buy Setup (Reversal Play):
  
• Entry: 1.7895–1.7905 (after candle confirmation on support)
  
• SL: Below 1.7875
  
• TP: 1.7950–1.7970 (channel top)
  

Sell Setup (on rejection or breakdown):

• Entry: Near 1.7960 resistance or breakdown below 1.7880
  
• SL: Above 1.7980
  
• TP: 1.7850 and below
  

🧭 Technical Outlook Summary

• Pattern: Falling Channel
  
• Bias: Short-term bullish (reversal from support)
  
• Key Zones: 1.7885 support | 1.7960 resistance
  

Watch for breakout beyond channel for directional confirmation

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