EUR/AUD Price Analysis: Bulls seeking a daily extension
|- EUR/AUD bulls taking up the reigns with a higher high in the playbook.
- A deep correction will now be expected to give way to the bulls.
The cross is starting to emerge from a significant Fibonacci retracement zone that has a confluence with prior resistance, now expected to act as firm daily support.
Daily chart
The bulls have based at a significant Fibonacci retracement area that meets prior resistance.
The price would now be expected to move higher towards the prior resistance and beyond for a higher high.
Hourly chart
The bulls are in charge at this juncture and the support zone will be monitored for a restest and subsequent hold for further conviction.
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