EURUAD POSSIBLE SCENARIOS

EURAUD as a pair is looking interesting to me right now, because price is on this significant zone of interest which , i think should be a point of interest for all trader intending to pick a swing trade on the pair as either direction which the pair choose to continue moving will post hundreds and possibly thousands of pips for possible long term trade.

Price just broke out of a range bond market on the pair, it broke above the significant support turn resistance, resistance turn support zone @ 1.6565 that has been holding since 2015 until, the break above give us a weekly close above the resistance zone, as the month is coming to an end this week.

I will be looking out for rejection on the 1.6565 zone for a monthly close above the zone and set price higher with target at 1.7200. Furthermore, break above 1.7200 will set price much higher targeting 1.900 zone.

WHILE a rotation lower back inside the range bond zone will set price lower with target at the next level of support @ 1.6100 zone.