EURAUD uptrend is not done yet...

EURAUD has been in a uptrend for most of the year 2023 mostly due to its correlation to the US dollar being strong and fundaments coming from Australia. During the past days, the pair has been hesitating but did not test any key level... Today, what we could observe is that a retest is potentially being made on the 1.6700 support before continuing higher to test highs. The 50 SMA seems to also support that idea as it gets closer to the key level.

Comment:

upside movement started from the support. Securing some profits because a reversal could happen

Comment:

Higher low has been created