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EUR/AUD reloading from another bullish leg?

FXStreet (Guatemala) - EUR/AUD is trading at 1.4489, down -0.12% on the day, having posted a daily high at 1.4513 and low at 1.4492.

EUR/AUD had breached onto the 1.45 level and ran into resistance at yesterdays highs where the air drifted back away from to potentially reload for another attempt collecting bids just sub of the handle. Nenad Kerke, analyst at Admiral Markets explained that this looks like a bullish “zig-zag” on the charts and price is getting into the zone. “Is a better buy than waiting for a breakout of higher levels. 1.4550 is the first target and break of that level aims for 1.4595”.

EUR/AUD note worthy levels

Spot is presently trading at 1.4493, and next resistance can be seen at 1.4510,1.4513, 1.4525, 1.4532. Support below can be found at 1.4492 1.4488 (Daily Classic R1), 1.4480 (Hourly 20 EMA), 1.4462 (Hourly 100 SMA) and 1.4461 (Weekly Classic R1).

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