EURAUD: Price Ascending to the $1.80 Upper Resistance Level

The currency pair remains in an upside move, ascending to the upper high level.
The bulls remain dominant in the market.

EURAUD Weekly Price Analysis – February 14

The EURAUD pair has recorded a notable upswing, ascending to the upper resistance level with high volume from the long traders. If the buy traders prove firm and the price shows sustainability above the $1.71 prior barrier value, its upside moves could extend further to reach a $1.80 high level, suggesting a good entry point for long traders.

EURAUD Market
Key Levels:
Resistance levels: $1.65, $1.66, $1.67
Support levels: $1.59, $1.58, $1.57

EURAUD Long-term Trend: Bullish (Daily Chart)

Following a correction, the EURAUD market is ascending to the upper channel despite sellers’ interference in the price flow in its higher time frame. Price is trading above the support of the price channel again, confirming the presence of a more bullish impact on the currency pair.
The sustained bullish pressure on the Yen at the $1.64 supply mark in the last session has made it easier for the price to remain firm in a bullish trend in its recent price level.

As the daily session begins today, the market value of EURAUD spikes to the $1.65 high level above the EMA-50, indicating an uptrend in the momentum of Yen’s price.

Thus, a sharp breakout and closure above the current correction phase at a $1.65 resistance value might wade off the bearish shackles and focus on the ultimate breakout to the $1.71 prior supply level and beyond, signaling optimism for more gains.

In addition, the continuity of the bullish run is crucial, as the price projector points upwards, indicating an uphill momentum.

Based on the outlook, the EURAUD price will keep ascending and could reach the $1.80 upper resistance level in the days ahead in its long-term outlook.

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

EURAUD is ascending to the upper channel and remains in a bullish trend in its medium-term outlook. The price bars can be sighted above the supply trend levels, suggesting a bullish momentum.
Despite the moves from the short traders, the bulls pushed the price of the Yen to the $1.64 supply level during the previous session and sustained its upward momentum in its recent high.

The EURAUD price is in an ascending channel as the bulls caused a rise again in the EURAUD price to the $1.65 resistance value above the moving averages as the 4-hourly chart opens today, indicating more active buy traders in the price flow.

The pair shows a high momentum V-shaped recovery from the $1.65 support and its potential upswing could revisit the $1.67 supply level soon.

However, with the daily stochastic pointing upward, the EURAUD pair may continue ascending and the $1.80 upper resistance mark might be the target in the medium-term perspective.

Note: Learn2.Trade is not a financial advisor Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.