Yesterday we wrote about the dynamic growth of EURAUD. The price instantly reached an important resistance at 1.5860. It seemed that there might be a bearish reaction here, but the bulls managed to push the price above that level. Currently, its retest is taking place from the top. It looks like a great place to enter a long position. Let’s recall the situation on this pair. The price from mid-June to 3 August was in a consolidation between 1.5700 and 1.5860. Then there was a drop below this first level and it seemed that the bears would prevail on the chart. After a long struggle on Tuesday, a strong growth impulse began, which broke through two important resistances.
We are currently dealing with 1.5860 as a new support. If this level is maintained, the target of the bulls will be an attack on 1.6085. Thanks to this, you can earn up to 200 pips opening a long position.
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