EUR/AUD – 30M – BUYThe currency pair breaks through the descending trendline upwards
An ascent upwards to the next resistance line at 1.62771 is considered certain.
Caution: A possible trend reversal in the direction of the support line at 1.61973 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 1.6268444 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.62771 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62974 |
| 2nd High | 1.62907 |
| Next High | 1.62771 |
| Current Price | 1.62453 |
| Next Low | 1.61973 |
| 2nd Low | 1.61867 |
| 3rd Low | 1.61096 |