EURAUD is currently in a well-established uptrend and trading within an ascending channel. The price is now testing the channel resistance, and momentum indicators suggest underlying strength that could support a breakout.
If the pair successfully breaks above the current resistance zone, it may initially target the upper boundary of the channel around 1.815. A decisive breakout above this level could open further upside potential toward 1.840.
Traders should watch for strong bullish candlestick confirmation at the resistance area or a retest of the breakout level for potential long entries.
If the pair successfully breaks above the current resistance zone, it may initially target the upper boundary of the channel around 1.815. A decisive breakout above this level could open further upside potential toward 1.840.
Traders should watch for strong bullish candlestick confirmation at the resistance area or a retest of the breakout level for potential long entries.
Note
4 hr chart 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.