My favorite opportunity at the moment and has bumped another trade I really love, EUR/AUD, down to #2 on my list.
Price appears to be forming a tidy bear flag on the quarterly/monthly. A break to the downside out of this pattern could easily lead to a retest of the flag bottom at the very least and potentially even the 1980 low which sits right next to the fibonacci levels and monthly 200ma.
Check out the full analysis on my site @ patstrades.com!