EURAUD has been trading in a downtrend for some time now. However, the price has just approached a key level of support on the larger time frames and which has seen price reacting previously. The RSI levels on the 1hr/Daily/4hr reflect oversold regions which indicate that there is room for EURAUD to rise from here. The target of this trade is around the 1.555 area, the stop-loss zone is located near the 1.544 level.