EURAUD forecast: EURAUD pair has been trading in downtrend channel and respecting channel support and resistance, it touched today channel resistance at 1.58998 also the resistance at 50MA, pair should approach towards channel support around 1.55884 as channel support. Indicators such as RSI and MACD also showing short entry. Traders can enter short position at with target 1.55884 keeping stop loss at 1.59500 closing basis.