EURAUD Buy Signal on the 1D MA50 and a fractal from 2021

EURAUD has been technically trading within a Triangle since October 2021 as both a Higher Lows trend-line has been supporting and the 1.62320 Resistance rejecting the price. At the moment the pair has found Support on the 1D MA200 (orange trend-line), which is a buy accumulation level of its own, with the 1D MA50 right below it. As long as this zone up to the Higher Lows trend-line holds, the pair will be a buy opportunity targeting the 1.6200 - 1.62320 Resistance Zone. If that breaks, the next target will be the 1.64380 Resistance.

A fractal from July - August 2021 comes to add more weight to that probability as a similar Channel Up, held the 1D MA50 at the time and that gave it an aggressive price boost to the 1.64380 Resistance.



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