- EUR/AUD bulls are seeking a breakout.
- 15-min resistance a stumbling block at this juncture.
EUR/AUD is showing signs of a bullish tendency according to the hourly chart. The following illustrates the probable opportunity conditional on subsequent price action.
EUR/AUD hourly chart
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There has been a strong rally to the upside which could equate to a continuation to break hourly resistance following the correction to test the support structure.
EUR/AUD 15-min chart
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The 15-min time frame shows that the price is struggling to move higher.
Once the bulls get above the 21-EMA, the price will be pressuring the 15-min resistance and break there may well encouraging more buyers to the table to take on the hourly chart’s resistance.
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