EURAUD at Key Support Level - Will Price Rebound to 1.66110?

6 Feb

EURAUD reached a key support level, an area where buyers have previously shown strong interest. The recent bearish movement suggests that price is testing this level, potentially setting up for a rebound.

A bullish confirmation, such as a strong rejection pattern, bullish engulfing candles, or long lower wicks, would strengthen the case for a move higher. If buyers step in, the price could rally toward the 1.66110 target. However, a decisive breakdown below this support would invalidate the bullish scenario and could lead to further downside.

This is not financial advice but rather how I approach support/resistance zones. Remember, always wait for confirmation, like a rejection candle or volume spike before jumping in.

Please boost this post, every like and comment drives me to bring you more ideas! I’d love to hear your perspective in the comments.

Best of luck , TrendDiva

6 Feb

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