The EURAUD price shows strength and remains in an uptrend at $1.72 level.
The bulls are still dominating the market at the moment.
EURAUD Weekly Price Analysis – March 30
The EURAUD pair shows stability and remains in an uptrend above the resistance levels, anticipating more growth as the Yen price approaches the upper resistance area. The crypto is currently recovering and facing the upper channel. Thus, if the Yen price closes above the $1.74 high mark, the accelerated buying pressure may increase the market value to reach the $1.78 upper resistance level and a potential buy signal.
EURAUD Market
Key Levels:
Resistance levels: $1.70, $1.71, $1.72
Support levels: $1.58, $1.57, $1.56
EURAUD Long-term Trend: Bullish (Daily Chart)
Despite the move from sellers, the EURAUD price remains and trades in an uptrend in the higher time frame. Price is trading above the supply trend lines again, confirming the presence of more bulls’ impact on the currency pair.
Today, the buy investors rallied to a $1.72 resistance level above the EMA-50 as the daily action began, implying an uptrend and a high bullish impact on the Yen.
Thus, more upsides are possible as buyers are clustered around the market presently.
As a result of price rejection in the previous action, buyers could push the price of EURAUD higher to a $1.72 level above the moving average line as the daily session opens today.
Thus, closing the daily session above the $1.74 peak supply barrier will put the trade more on the buying side.
Additionally, under the influence of this market level, the EURAUD price could rise steadily and break up the previous high at $1.72 level to reach the $1.78 upper resistance level as soon as we watch the pair turn strongly bullish in the long-term perspective.
EURAUD Medium-term Trend: Bullish (4H)
On the 4-hour chart, prices are above the moving averages and have confirmed a bullish momentum breaking the previous high.
Following bullish moves shortly after today’s 4-hourly chart opens, the buying team has decided to shift the trend upward.
The current price of EURAUD at $1.72 high level above the EMA-50 indicates an uptrend. The market is reacting to this pattern, and its breakout should provide a good buy entry opportunity.
Hence, the investors buying at this supply can expect sustained growth above the $1.74 price level.
Currently, the price signal is pointing upwards indicating a bullish move; in this case, the Yen price could surge to hit the $1.78 upper supply mark sooner in its medium-term outlook.
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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