EURAUD - Bullish call

EURAUD (1H) - short term bullish bias

The euro met strong buying interest at the psychological level of 1.6, and took advantage of the Australian dollar's weakness across the board to rise above the critical level of 1.6180. This opened the door for a rally towards the daily resistance of 1.6300. The 20-hour moving average is diverging from the 30-hour one as a sign of increased bullish momentum. As the RSI touches the over-bought zone, we may expect a temporary retracement before a new round of rally.

Key support: 1.6150
Key resistance: 1.6300