EURAUD - Can Support Hold or Give Way for breakout

EURAUD has been sliding lower and is testing a major support level at 1.4500. If there is a close below 1.4450, after nearly 12 months of a range, that could open up movement to 1.4000. If support holds, there is a clean trendline break and movement to a recent monthly pivot around 1.5000. Either way, 300-500 pips of movement isn't a bad thing. Let's see how this plays out. Any entries will start small, and be added to on confirmation and follow through. For more information on this and other setups, visit Daytraders FX or Daytraders FX On-Demand