EUR/AUD breaks above channel top, gains till 1.5277 likely
EUR/AUD has broken channel top at 1.5105 after multiple attempts since Dec 10th and is currently trading at 1.5188 levels.
Upside in the pair was capped at 1.52 levels which is 38.2% Fib of 1.6585 to 1.4347 fall, Technicals are supportive for further gains, break above 1.5210 could take the pair to 1.5277 (Dec 14 highs).
1.52 to 1.53 is strong resistance zone for the pair, breaks above could target 1.5466 (50% Fib of 1.6585 to 1.4347 fall) and then 1.55 levels (Nov 2 highs).
1.5207 (Session high Jan 6th) and 1.5050 (10-DMA) are immediate resistance and support levels for the pair.
We would go long on break of 1.5210, TP: 1.5280/1.53, SL: 1.4970
Upside in the pair was capped at 1.52 levels which is 38.2% Fib of 1.6585 to 1.4347 fall, Technicals are supportive for further gains, break above 1.5210 could take the pair to 1.5277 (Dec 14 highs).
1.52 to 1.53 is strong resistance zone for the pair, breaks above could target 1.5466 (50% Fib of 1.6585 to 1.4347 fall) and then 1.55 levels (Nov 2 highs).
1.5207 (Session high Jan 6th) and 1.5050 (10-DMA) are immediate resistance and support levels for the pair.
We would go long on break of 1.5210, TP: 1.5280/1.53, SL: 1.4970
