EUR/AUD Long-Term Trend: Bullish
Key Resistance Levels: 1.55900, 1.56155, 1.57000
Key Support Levels: 1.55243, 1.54988, 1.54000.
The price on the higher time frame succeeded to break the key resistance level (now support) around the 1.82693AUD mark with the help of a hammer bar near the support. This shows that the market is clearly controlled by the buyers where further movement to the upside could be seen in the coming hours.
EUR/AUD Medium-Term Trend: Bullish
On the lower time frame, the bulls manage to break the bullish flag pattern to the upside and now the price traded above the key resistance area in a small range. The market found more bulls around the 50.00 % Fibonacci retracement which could lead to a move higher. Before this move a lower correction could be seen to the new support.
Buy Limit Order @ 1.55252
TP 1 @ 1.55840
TP 2 @ 1.56155
Stop Loss @ 1.54958
Trade Safely 🙂