After the large double bottom that took 6 months to complete back in 2022 and the break of the neckline in October, EurAud reached a high at 1.6 and started to correct and consolidate.
Now the pair is trading near support again and traders could look for buying opportunities in this zone.
Considering the importance of the break I don't think the H&S from October will play and I favor range trading for this pair.
As I said, the bottom of this range is in the 1.53 zone and swing traders could target 1.6 for their trades.
1.5650-1.5700 is also resistance.
This outlook is negated by a drop under the neckline that should offer support at this point.
Now the pair is trading near support again and traders could look for buying opportunities in this zone.
Considering the importance of the break I don't think the H&S from October will play and I favor range trading for this pair.
As I said, the bottom of this range is in the 1.53 zone and swing traders could target 1.6 for their trades.
1.5650-1.5700 is also resistance.
This outlook is negated by a drop under the neckline that should offer support at this point.
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💎 Join the FREE Crypto Channel
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💎 Join the FREE Crypto Channel
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.