EUR/AUD: Strong bullish break of key resistance
|Price Action Context
After a series of higher lows and two strong impulsive attacks on the resistance, bulls have now been able to push price through the mid-term key resistance that has rejected price since mid-June.
Trending Analysis
Short-term bias changed to bullish and weak pullbacks into the broken resistance which now should act as support can offer potential bullish trading opportunities. A strong return and break back below 1.65 on the other hand would put 1.6170 back into focus.
Closest Support & Resistance Zones
Resistance: 1.7090 – 1.7350
Support: 1.6500 – 1.6600
Visit our website at 2ndSkies for more price action content, free trading lessons, strategies and videos. Find out how we can help you to change the way you think, trade and perform.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.