FX.co ★ EUR/AUD H4 | Potential bullish breakout

For EUR/AUD, there's a potential bullish breakout scenario:

Description: The chart indicates a potential bullish breakout, with significant resistance identified at two levels.

Resistance Levels:

The 1st resistance level is observed at 1.6624, characterized as a "Pullback resistance." This level indicates a historical barrier where the price has encountered selling pressure after reaching previous highs.

The 2nd resistance level is located at 1.6706, designated as a "Pullback resistance." Like the 1st resistance, it represents another historical level where the price has struggled to move above due to selling pressure.

Support Levels:

The 1st support level is at 1.6465, noted as a "Pullback support." This level suggests a historical area where the price has found support, indicating potential buying interest.

The 2nd support level is positioned at 1.6363, recognized as a "Swing-low support." Similar to the 1st support, this level represents another historical zone where price has found support, suggesting a strong level of buying interest.