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.
EURAUD interval H1. Source: xStation5
