EURAUD is trading in a massive upward channel with a strong horizontal support in green as an additional backup.
After the in-channel diagonal resistance was broken, the pair was set free to go up with the channel and retest the upper bounds.
Now, the small diagonal resistance has also been broken and there the new target is the horizontal structure resistance.
There is a hight chance for it to be tested soon. Therefore i am bullish short term.
Key levels for now:
Resistance: 1.6584
Support1: wherever the diagonal support gets touched.
Support2: the broken diagonal resistance is now a mirror level
Support3:1.6113 to 1.6055(if the channel support is broken again)
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Nota
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