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EUR/AUD Potential Upward Movement

EUR/AUD Long-Term Trend: Bullish

Key Resistance Levels: 1.66927, 1.67128, 1.67408

Key Support Levels: 1.65934, 1.65686, 1.64534

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a support level of 1.58596 and bounced back. The pair has broken a few resistance levels with good momentum which suggests further trend continuation.

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 recently broke a consolidation zone of 1.64534 and 1.65686 and has sustained above that. As of now the pair has broken a minor level of 1.65934 which shows signs of momentum continuation.

Signal Idea:

Buy Stop Order @ 1.66232

TP @ 1.66664

Stop Loss @ 1.65798

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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