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EUR/AUD Price Analysis: Bulls seek continuaiton through hourly resistance

  • 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

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

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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