Since last week EURAUD can’t go away from the level of 1.5770. The downward movement stops at support 1.5660, and move up stops at resistance 1.5940. Dynamic upward candle, which took place on Thursday after the Fed decision also does not help with consolidation breakout. If break below that consolidation will be successfully next support on 1.5600 has a chance to cause a rebound. On the other hand, the break above resistance 1.5940 will take price first to 1.6160 and next to 1.6600.
Wider view, interval W1
At weekly interval we can indicate another significant levels. After breaking down the 1.5600 level, the downward movement may reduce price to 1.3800. But break above the level 1.6600 will bring the price to 1.7400.
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