EURAUD: Price at Possible Buy Opportunity at $1.79 Level

The EURAUD pair is at possible buy opportunity at $1.79 level.
Buyers remain dominant in the market.

EURAUD Weekly Price Analysis – July 6

The EURAUD price offers a suitable pullback with an aggressive bullish trend, suggesting a possible buy opportunity for long traders at the $1.79 price level. However, the pair might continue its bullish run and remain stable above the supply levels. Therefore, if buyers manage to break the pattern’s resistance trend line at the $1.84 high value, a probable relief rally might propel the Yen market price to the $1.90 resistance mark and beyond, resulting in a turnaround for long traders.

EURAUD Market
Key Levels:
Resistance levels: $1.80, $1.81, $1.82
Support levels: $1.58, $1.57, $1.56

EURAUD Long-term Trend: Bullish (Daily Chart)

The EURAUD pair is at a possible buy opportunity, witnessing a resurgence in its upward trajectory on the higher time frame. The pair is bullish, trading above the EMA.
The currency pair remains firm above the supply levels in its recent high due to an increasing order flow by the bulls.

Today, the EURAUD price made a buy trade as buyers offered a suitable pullback at a $1.79 high mark above the EMA-50 as the daily session opens, supporting recovery in the Yen market.

Thus, closing the daily session above the $1.84 previous neckline will put the trade more on the buying side before any bearish appearance.

Furthermore, the EURAUD price may continue to make a buy trade set-up as suggested by the daily stochastic pointing in an upward direction. In light of this, the Yen price may surge to the $1.90 upper resistance trend mark in its long-term outlook.

EURAUD Medium-term Trend: Bullish (4H)

The EURAUD pair displays a bullish rally, implying a possible buy opportunity for buyers in its medium-term outlook.
The chart indicates that the Yen price trades close to the upper resistance channel, suggesting an upward trend.

In previous action the pair has been having high interference from buyers, making it easier for the currency pair to maintain stable upside moves in its recent high.

The EURAUD price at a $1.79 high values is undeniably bullish and at a possible buy chance as the 4-hour session opens today, confirming a broader market recovery and strong optimism among the long-term traders.

Meanwhile, a further increase in buying pressure might lead the Yen price above its current value, obtaining a higher footing to rise further.

Additionally, continuation to the upside is likely as the price indicator projects an upward move, implying that the bullish trend will continue and the pattern might hit the $1.90 upper resistance trend line, indicating a potential buy signal in its medium-term view.

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