EUR/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.5395, 1.5531, 1.5643
Key Support Levels: 1.5230, 1.5181, 1.5124
The price on the higher time frame was trading in a downtrend for some time and recently it found support at the 1.4320 level and bounced back from there. The two resistance levels of 1.4767 and 1.5152 have been broken which indicates a bullish bias.
EUR/AUD Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. The price has formed a higher-low pattern and broke the trading zone of 1.5181 with good momentum. It sustained above that level and recently a minor level of 1.5230 has been retested before picking up the momentum.
Buy Stop Order @ 1.5292
TP 1 @ 1.5388
TP 2 @ 1.5580
Stop Loss @ 1.5196
Trade Safely 🙂