EurAud to rise above 1.6 (medium term outlook)

2022年10月21日

Since the late August low at 1.43, EurAud has started to rise and, after reaching my 1.52 target, the pair broke above this resistance and confirmed a double-bottom pattern.
At this moment EurAud is consolidating and slightly correcting this recent up move and a new wave of gains could come soon.
1.52 is very strong support at this moment and, in my opinion, any dips to that zone should be bought.
The target for bulls can be above 1.6, a level very well defined and also the double bottom's measured target.