EURAUD since February 24th is moving up. Price reached key resistance at 1.4600 where last week there was first bearish reaction. Decreases did not last long and since yesterday we see appreciation.

If currently tested resistance would be broken we can expect continuation of gains even to 1.5050 area.

Try out XM account and get free $30 bonus without any deposit

Looking at H1 chart we can notice that bullish gap is not closed and strong bullish reaction happened in local support area at 1.4320.

In the near time we can expect another test of last week’s highs. If there will be any bearish reaction in this area we can expect depreciation. However if this level will be broken, gains could be continued in longer time frame.

Leave us a comment!