EUR/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.63174, 1.64136, 1.64200.
Key Support Levels: 1.61261, 1.59377, 1.59300.
The price on the higher time frame succeeded to break a strong daily resistance around the 1.61261 AUD mark with the help of a bullish bodied bar with long wick to the downside which shows that the buyers are in control and further movement to the upside is expected.
EUR/AUD Medium-Term Trend: Bullish
On the lower time frame, the pair is traded inside a bullish channel formation where it found buyers around the 50% Fibonacci retracement level. This led to a move higher. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profit.
Buy Limit Order @ 1.61750
TP 1 @ 1.62835
TP 2 @ 1.63174
Stop Loss @ 1.61275
Trade Safely 🙂