EURAUD pair has been moving in a downward trend recently. Nevertheless, looking at the H1 interval, the downtrend line was broken, and we are currently observing an attempt to negate the 1: 1 structure. If buyers manage to keep the price above the resistance at 1.5990, a stronger upward move may be on the cards. In the case of such a scenario, the nearest resistance is located at 1.6030. On the other hand, if sellers manage to regain control, then another impulse towards support at 1.5920 may be launched.
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