EURAUD: Price Poised for a Bullish Reversal

The EURAUD pair anticipates a rise soon.
The price breakout may surge to $1.81 crucial level.

EURAUD Weekly Price Analysis – January 25

The EURAUD price anticipates a bullish reversal as the market reaches an oversold region. It’s about time for the pair to grow after the completion of the dip-low movement. The price may rebound and turn positive from the current support level of $1.70 if the bulls increase their buying aggression and all support levels remain unchanged. Hence, if this is achieved, the bulls may push higher and break out to test the previous high of $1.81, extending to an upper range of $1.84, indicating increasing buying pressure.

EURAUD Market
Key Levels:
Resistance levels: $1.80, $1.81, $1.82
Support levels:    $1.72, $1.71, $1.70

EURAUD Long-term Trend: Bearish (Daily Chart)

The EURAUD market may be relieved from the present trend and face resistance as it approaches completing the low dips in its higher time frame. The price is below the EMA line, indicating a bearish trend.
The pair appeared attractive to sellers at its recent low due to the bears’ persistent order flow to $1.71 support in the last session.

Today, the EURAUD price dropped to $1.70 below the EMA-50 as the daily chart opens, suggesting a bearish momentum and the high impact of sell traders on the pair.

Thus, if the bulls exchange hands with the sell traders at the mentioned support and close above the $1.80 resistance value, additional intraday gains would be recorded for buy traders.

Additionally, a bullish reversal is imminent at the current support as the price indicator projects an upward move at the oversold region, implying that the emergence of buyers is likely sooner.

As a result, the EURAUD pair may reverse to a bullish trend and reach the upper resistance level of $1.84, indicating a potential buy signal in its long-term view.

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

EURAUD price is bearish on the medium-term chart. The trade is showing a downward movement due to the inflows from the selling traders.
This is clear, as we can see the price continues to make lower highs and lower lows.

The price hovers at the $1.71 support level below the moving averages, as the 4-hourly chart opens today, suggesting an exciting time for sellers.

However, if buyers can increase their buying actions, the current value may experience a bullish reversal above the previous peak barrier at $1.76 and remain at the upper range.

Additionally, the EURAUD value may rebound at the current support and increase as indicated by the daily signal’s upward move.

Hence, a potential upswing would get better confirmation of a bullish recovery if the buyers break above the previous high of $1.76.

The post-breakout rally may lead the currency pair price toward the upper resistance level of $1.80, creating excitement among sellers.

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