๐ฑEURAUD - Break of triangle support gives a signal
EURAUD failed to break through the resistance at 1.65000. Having formed a false breakdown, the price falls and breaks the support of the ascending triangle, thus opening a red carpet for itself
TA on the high timeframe:
1) Price in range. From resistance, price may reach support in the medium term
2) Weakness on the buy side will lead to a quick test of support
TA on the low timeframe:
1) a break of triangle support is a strong signal
2) Price breaks 1.6364 and heads towards 1.61868.
3) A retest of resistance is likely to follow.
Key support๐: 1.62500, 1.60961
Key resistance๐: 1.63640
TA on the high timeframe:
1) Price in range. From resistance, price may reach support in the medium term
2) Weakness on the buy side will lead to a quick test of support
TA on the low timeframe:
1) a break of triangle support is a strong signal
2) Price breaks 1.6364 and heads towards 1.61868.
3) A retest of resistance is likely to follow.
Key support๐: 1.62500, 1.60961
Key resistance๐: 1.63640
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