EURAUD: Price at Possible Buy Opportunity at $1.82 Level

The EURAUD pair is at possible buy opportunity at $1.82 level.
Buyers may place their order at their desired position.

EURAUD Weekly Price Analysis – April 6

The EURNZD price is gaining traction with an aggressive bullish trend, suggesting a possible buy opportunity for long traders at the $1.82 price level. The pair exhibits a robust upward trajectory, buoyed by broader market recoveries. However, the currency pair might continue its bullish run and remains stable above the $1.82 current supply to reach the $1.85 upper resistance level, signaling strong market optimism and potential for significant gains.

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 witnessing resurgence in its upward trajectory and remains at a possible buy opportunity for long traders in its long-term perspective. The pair is bullish, trading close to the upper resistance above the EMA.
The bulls’ pressure to a $1.75 high point in the last session has enabled the Yen price to initiate another uptrend above the resistance level in its recent high.

The market price of EURAUD increases significantly to a $1.75 high level above the moving averages to open the daily session today, signaling a potential buy signal or opportunity for the interested traders.

Thus, closing the daily session above the $1.82 current neckline will put the trade more on the buying side before any bearish appearance.

Notably, buyers are clustered around the market as indicated by the momentum indicator pointing upwards, implying that buyers might continue the bullish rally to the EURAUD market, leading the Yen price to reach the $1.85 upper resistance level soon in its higher time perspective.

EURAUD Medium-term Trend: Bullish (4H)

The EURAUD pair displays a bullish rally in its medium-term outlook. The chart shows that the Yen now trades at the upper resistance channel, suggesting another opportunity to buy the currency pair and a turnaround for the buy investors.
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.

Just like usual, the EURAUD price is going up from the chart above. Today, buyers made a strong push with a long candle up to the $1.82 high mark above the EMA-50, confirming a broader market recovery and a strong optimism among the long term traders.

Hence, if the trend continues, the Yen price might surpass the $1.82 current level, presenting a potential buy opportunity for buyers.

Additionally, continuation to the upsides is likely as the price indicator projects an upward move, implying that the bullish trend will continue and the pattern might hit the $1.85 upper resistance trend line soon, indicating a potential buy signal in its medium-term view.

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.

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