EUR/AUD: Strong bullish break of key resistance

Chris Capre 2ndskiesforex

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

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Author

Chris Capre

2ndskiesforex

Chris Capre is a professional forex trader and mentor specialized in Price Action trading, and the Ichimoku Cloud.

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