EURAUD Technical chart | 17-Jan-2012

Below is the technical char of EURAUD currency pair on H4 time frame. The indicator used is Ichimoku Kinko Hyo.

Ever since, it closes below kumo @1.29903 on 20-Dec-2011, it is moving downward. Never tried to cross or even touch kumo. Simple downtrend. Still, price is trading below kumo. So, do not take any long position in this currency pair. 1.22326 is the immediate target for it.