EURAUD: Offers a Significant Pullback at $1.79 High Level

The EURAUD offers a substantial pullback at $1.79 High Level.
The currency pair may continue its bullish correction.

EURAUD Weekly Price Analysis – June 29

EURAUD pair offers a significant pullback at the $1.79 high mark due to high purchasing power from buyers, stabilizing above the supply levels. Therefore, a likely relief rally might push the Yen price to a $1.90 upper resistance mark and beyond, giving buyers a turnaround, if they can break the pattern’s resistance trend line at the $1.84 high value.

EURAUD Market
Key Levels:
Resistance levels: $1.80, $1.81, $1.82
Support levels: $1.63, $1.62, $1.61

EURAUD Long-term Trend: Bullish (Daily Chart)

The EURAUD price offers a significant pullback today and remains an ascending channel in its long-term outlook. The price bars can be seen above the EMA-50, approaching the overhead resistance level to boost the bullish sentiment.

The order flow from the bulls in the last session also added to this bullishness. However, the bulls are ready to swing the Yen price to the upper resistance zone.

Today, EURAUD buyers offer a significant pullback at a $1.79 supply mark above the EMA-50 as the daily session opens, bolstering the bullish momentum in the Yen market.

Thus, if the bulls change their orientation and accelerate their buying actions, the price may give a bullish breakout, reaching a prior high at $1.84 before a range breakdown.

In addition, the currency pair market value might swing up and break its previous barrier level at $1.84 if bearish pressure is restricted.

Hence, the bullish correction phase may extend to meet the resistance at the $1.90 upper resistance, reflecting promising growth.

EURAUD Medium-term Trend: Bullish (4H Chart)

The EURAUD pair is bullish on the medium-term chart. The pair offers a significant pullback and remains a good buy at the $1.79 level above the moving average approaching the upper resistance level. The Yen is very likely to continue moving upwards as we are seeing a strong turnout of buyers.
The currency pair price remains firm above the supply levels in its recent high due to an increasing order flow by the bulls.

Today, the EURAUD market looks promising as it offers a significant pullback and rises to the $1.79 supply mark above the resistance levels amid soaring network activity.

With strong buying pressure and positive market sentiment, the pair has the potential to rise above the current peak barrier level at $1.79, offering a vibrant resistance to the Yen.

Additionally, the EURAUD price might experience a bullish breakout if the bulls put more effort into their tension, as signaled by the daily stochastic pointing up, indicating an uptrend and a bullish trend continuation.

As a result, the next target could be the $1.80 upper high trend mark in the medium-term perspective.

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