At the daily interval you can see breakout of the upward channel, in which EURAUD moves from April 2015. After breakout, there was a dynamic movement 1000 pips up during today’s session. Move upward for the moment was stopped at 1.6600. At such a high level EURAUD was for the last time in 2010.
If breakout this level will be effective which may take some time another resistance is seen at weekly intervals and is located at 1.7400. Any descent to a level 1.5950 would mean re-test of the broken resistance. And will open the opportunity to join the upward trend on this pair.
