EUR/AUD Potential Upward Movement
Key Resistance Levels: 1.61738, 1.64371, 1.64500.
Key Support Levels: 1.59377, 1.57975, 1.56791.
The price on the higher time frame failed to break the 1.59377 AUD mark and reversed higher where a series of bullish candlesticks has been posted. Further movement to the upside could be seen toward the next key level around the 1.61738 CAD mark.
EUR/AUD Medium-Term Trend: Bullish
On the lower time frame, the price posted a double bottom and succeeded to break the bearish channel to the upside. The market as well managed to break the highlighted zone to the upside where we expect a lower correction to this zone before a new bullish impulsive wave toward the target profit.
Buy Limit Order @ 1.60570
TP 1 @ 1.61717
TP 2 @ 1.64371
Stop Loss @ 1.60037
Trade Safely 🙂