EUR/AUD Is Testing 1.4780

EUR/AUD has been moving to the downside since the end of May this year, but it seems that is finally over, at least for now, because the pair stalled at the support at 1.4490, formed a doji candlestick and a spinning top candlestick on the daily time-frame and started climbing. At the moment the pair is testing the resistance at 1.4780. A possible breakout above that level could lead to a further move to the upside towards the resistance at 1.5050, which coincides with (MA)89 on the daily time-frame. In the alternate scenario the pair will bounce off 1.4780 and fall to once again test the support at 1.4490.