Trend Overview:
The EURAUD currency pair maintains a bullish outlook, supported by an established rising trend. Recent intraday movement reflects a corrective pullback, potentially offering a buying opportunity within the broader uptrend.
Key Levels to Watch:
Support (Key Level):
1.7740 – former consolidation zone and a pivotal support level
Below that: 1.7700, then 1.7640 as deeper pullback zones
Resistance:
Initial upside target: 1.7950
Further resistance at 1.7990 and 1.8040
Scenarios:
Bullish Continuation:A rebound from 1.7740 would affirm ongoing bullish sentiment
Expected to push price toward 1.7950, followed by 1.7990 and 1.8040 in the medium term
Bearish Reversal:
A daily close below 1.7740 would weaken the bullish case
Opens the door for a broader correction targeting 1.7700, then 1.7640
Conclusion:
EURAUD remains bullish within a rising trend, with 1.7740 acting as the key level for near-term direction. A successful defense of this support may trigger a renewed rally. Conversely, a break and close below it could lead to further downside pressure. Traders should monitor price action closely around this zone for confirmation.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
The EURAUD currency pair maintains a bullish outlook, supported by an established rising trend. Recent intraday movement reflects a corrective pullback, potentially offering a buying opportunity within the broader uptrend.
Key Levels to Watch:
Support (Key Level):
1.7740 – former consolidation zone and a pivotal support level
Below that: 1.7700, then 1.7640 as deeper pullback zones
Resistance:
Initial upside target: 1.7950
Further resistance at 1.7990 and 1.8040
Scenarios:
Bullish Continuation:A rebound from 1.7740 would affirm ongoing bullish sentiment
Expected to push price toward 1.7950, followed by 1.7990 and 1.8040 in the medium term
Bearish Reversal:
A daily close below 1.7740 would weaken the bullish case
Opens the door for a broader correction targeting 1.7700, then 1.7640
Conclusion:
EURAUD remains bullish within a rising trend, with 1.7740 acting as the key level for near-term direction. A successful defense of this support may trigger a renewed rally. Conversely, a break and close below it could lead to further downside pressure. Traders should monitor price action closely around this zone for confirmation.
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
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.
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.