EURAUD is forming a strong correction within which it may reach trend support in the near future. From the support, based on the basic fundamentals of intra-range trading, I will wait for a bounce in the trend direction
TA on the high timeframe:
1) Global bullish trend
2) Price in consolidation inside the corridor between volume density. High probability of a bounce from the lower boundary.
TA on the low timeframe:
1) retest of the support of the ascending price channel
2) bullish trend may positively influence the support retest
3) waiting for a rebound, test of 1.6735 and rise to 1.68400.
Key support: 1.66222
Key resistance: 1.6735
TA on the high timeframe:
1) Global bullish trend
2) Price in consolidation inside the corridor between volume density. High probability of a bounce from the lower boundary.
TA on the low timeframe:
1) retest of the support of the ascending price channel
2) bullish trend may positively influence the support retest
3) waiting for a rebound, test of 1.6735 and rise to 1.68400.
Key support: 1.66222
Key resistance: 1.6735
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