EUR/AUD and Target Levels for an Upward Move

The EUR/AUD pair has reached strong buying demand zones on the daily timeframe and has also reached converging zones on the 4-hour timeframe.

An upward move is expected soon, especially if the pair breaks the downtrend line and closes above it with a 4-hour candle.

Expected Targets

If the downtrend line is broken and the price closes above it, we expect to see a rise to the levels of 1.6400 and 1.6460, respectively.

Conversely, if the pair falls to the area near 1.6288 and buy signals appear, we expect to see a rise to the same targets.