EUR/AUD Price Analysis: Bulls seeking a daily extension

• EUR/AUD bulls taking up the reigns with a higher high in the playbook.
• A deep correction will now be expected to give way to the bulls.

The cross is starting to emerge from a significant Fibonacci retracement zone that has a confluence with prior resistance, now expected to act as firm daily support. 

Daily chart

The bulls have based at a significant Fibonacci retracement area that meets prior resistance.

The price would now be expected to move higher towards the prior resistance and beyond for a higher high. 

Hourly chart

The bulls are in charge at this juncture and the support zone will be monitored for a restest and subsequent hold for further conviction.