euraud has been in a clear downtrend and trading well below 1.4660 area over the last 4 weeks has been rangebound, rotating around its 38.2% Fibonacci retracement of the one year move up from 1.2225 to 1.5830. The current range is between 1.4300 and 1.4600 and a break to the upside would target trend line resistance at 1.46600 where price would…