EURAUD Potential Long

EURAUD has been getting hammered, however on our shorter term 4 hour picture, we have put in a higher low. If this is indeed the end of the bear trend, then price will touch the .618 area and advance to new highs with little trouble. If this level fails then we will see either chop around for a while or another leg down. If we break our previous higher low to the downside then we have no trade unless we confirm in another buy zone that will set up at those lows.