EURAUD has clearly broken above the long-standing resistance zone, turned it into support, and successfully retested it—confirming the breakout's validity. The bullish candlestick formation on the 4H timeframe reinforces buyer momentum. The consolidation before the breakout also suggests accumulation, not exhaustion. With this structure shift and bullish confirmation, price is likely to continue its upward leg, aiming for new swing highs as long as the retested support holds. Momentum favors buyers in both structure and sentiment.
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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.