On the 29th of August, I've written that EurAud can rise following the false break and the 1.47 zone could be the bulls' target. This target was reached last week and a correction followed. As we can see from the posted chart, this correction stopped exactly in support, and yesterday's reversal is marked by a strong bullish engulfing. At this moment there is a high probability of an up break with a target above the 1.5 zone. Buy dips against yesterday's low can be a good strategy
Comment
Euraud is 100 pips above resistance. This level is now support
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