EURAUD: Price Anticipates a Rise Soon

The currency pair anticipates a rise.
The bulls may become crucial in the market sooner.

EURAUD Weekly Price Analysis – April 27

The EURAUD pair anticipates a rise soon as the Yen selling pressure is about to subside. Meanwhile, the pair might increase further if the bulls add more aggression to the buying momentum. If this is achieved, the target may be the $1.89 upper resistance level, signaling a buy potential for the bulls.

EURAUD Market
Key Levels:
Resistance levels: $1.78, $1.79, $1.80
Support levels:    $1.59, $1.58, $1.57

EURAUD Long-term Trend: Bullish (Daily Chart)

The momentum on the long-term time frame is distinctly bullish as the bulls anticipate a further rise soon. Nevertheless, it seems the bulls will take over the price of EURAUD soon and push us higher as the market remains in an uptrend, despite the moves from the sell traders.
Today’s daily chart is at a $1.78 supply level above the EMA-50, anticipating a rise soon. This will give the buy traders the motive to influence the price tendency.

Meanwhile, the Yen price is anticipated to rise soon, should buyers increase their buying swagger, a positive breakout above the $1.84 peak barrier level is needed to confirm the potential rise.

Hence, if a renewed surge in buyers occurs, the EURAUD price might surge to hit the previous barrier at the $1.84 supply level and extend further to a $1.90 upper resistance value, as it anticipates a rise soon in its higher time frame.

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

EURAUD price is bearish on the medium-term chart. Meanwhile, the Yen anticipates a rise as soon as it approaches the overhead region. The price action is below the moving averages, suggesting a bearish trend.
Sellers’ increased momentum to the $1.77 support level in the past few days has sustained the currency pair below the resistance levels in its recent low.

Today, the EURAUD pair anticipates a rise while the sell traders took the journey down south at the $1.77 low mark below the EMA-50, shortly after the commencement of the 4-hourly chart.

Hence, if the bulls increase their confidence in the EURAUD investment, the Yen market trend could see another uphill trend by reversing from the $1.77 current support mark and hitting the $1.84 resistance barrier, attracting big players to drive the Yen price higher.

Additionally, the daily signal pointing is approaching the oversold region. In light of this, the EURAUD buyers may emerge and turn the price upside to reach the $1.90 upper supply mark in the days ahead as the pair anticipates a rise soon in its medium-term time frame.

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