EUR/AUD has found a strong support level and is currently showing signs of increased buyer interest, suggesting a possible reversal in the price movement. This interest from buyers indicates that there may be a good opportunity for the price to rise. However, there is a bearish trend line acting as resistance that could create a challenge for any upward movement.
If the price can break through this bearish trend line, it would signal strong momentum from buyers and could lead to upward trend. Alternatively, if the price struggles to break this resistance, it may continue to face downward pressure and remain within the bearish trend.
If the price can break through this bearish trend line, it would signal strong momentum from buyers and could lead to upward trend. Alternatively, if the price struggles to break this resistance, it may continue to face downward pressure and remain within the bearish trend.
Trade closed: target reached
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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.