FxWirePro: EUR/AUD drifting along channel line despite bearish patterns

Our observation glimpses that this month EURAUD has been lingering along with the channel line support despite the breaches of this channel line support occurred quite a few times at around 1.5695 levels but still maintaining that levels to creep towards upwards, while weekly leading oscillators do neither signal clear bullish calls nor bearish as they are not convincingly converging downwards to the dropping prices on a daily terms.

But on daily charts, long legged doji occurred at 1.5682 levels on 22nd which was figured out on 23rd and accordingly formulated suitable bearish strategy. Now observe how exactly the prices drifting back to downwards by forming again serious bearish candle patterns but sticking onto the channel line support. A shooting star is occurred at around 1.5980 levels that is showing its impact to pull the prices back to the lows of 1.5834 levels.

RSI curve is currently trending at 56.1648 and %D line crossover near 60 levels (current %D is at around 58.8505 and %K is at 57.8303) on daily charts. So we believe with all these bearish indications, the pair to drag towards 1.5588 levels to make next channel distance approximately contemplating current long term uptrend.