EURAUD: short setup from daily support at 1.65015EUR/AUDOANDA:EURAUDThe_Traders_HouseFollowing the previous rally, the EURAUD asset is smoothly reversing and starting to decline. The chart currently looks promising for a local short setup below the key level of 1.65015. The recent downward move stalled exactly at this price. Yesterday's daily bar closed near its low and right against the level. Over the last few hours, we can see a local accumulation channel forming just above the support. Gameplan: Setting an alert just before the level and waiting for a proper entry trigger. Important reminder: Given the ongoing global macro instability, this is not the time to expect medium-term swing moves. We need to trade locally and simply take what the market gives us right now. PRO-THESIS FACTORS: volatility contraction on approach close retest at-level close extreme close Leave your thoughts on the setup in the comments. Follow this profile to monitor all upcoming ideas.