The EURAUD pair has experienced a bullish breakout through the downward channel’s resistance. The target is set at 1.6609.

The trading arrangement was spotted on the EURAUD. The EURAUD’s price has surpassed the resistance line of a Channel Down pattern on March 28, 2024, at 6 AM. It is predicted that there may be a bullish price movement for the upcoming 5 hours towards 1.6609.

The pattern’s overall visual quality is superior. The trading arrangement is well-defined, with minimal noise during the shifts between support and resistance. The breach through the resistance was notably robust. This is a powerful signal of the present condition of market psychology.