EUR/AUD broken below the M Formation - Havoc to go to 1.5819

M Formation has formed over the last month with the EUR/AUD.

If you saw the last trade analysis, you'll see the EUR is showing downside on all large currencies.

We've now had a breakout below the neckline of the M formation, which means there is downside to come.

21>7
Price is testing the 200MA. So only once it breaks below will it give a stronger indications of further downside to come.

Target 1 will be at 1.5819.