EUR/AUD Potential Upward Movement

EUR/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.6061, 1.6170, 1.6276

Key Support Levels: 1.5882, 1.5779, 1.5653

Daily Chart:

The price on the higher time frame has been in an uptrend after it found support around the 1.4280 level and reversed direction. The pair has broken a consolidation zone and now it broke a resistance level of 1.5694 which shows bullish signs.

EUR/AUD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It consolidated for some time between a range of 1.5487 and 0.5653 and has broken the upper range. As of now it has broken and retested a minor level of 1.5882 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.5959

TP 1 @ 1.6049

TP 2 @ 1.6184

Stop Loss @ 1.5869

Trade Safely 🙂