EUR/AUD Is Testing 1.5430

After moving to the downside for about a month since the beginning of December last year, EUR/AUD reached a support at 1.5280 which is slightly above the (MA)89 indicator on the daily time-frame at 1.5250. The pair formed an inverted hammer candlestick on the daily time-frame at the aforementioned support at 1.5280 and bounced off from it. Currently the pair is testing the resistance at 1.5430 and the question is whether it will break out above that level to continue towards the next target to the upside, which is around 1.5500. Since the pair has formed an inverted hammer candlestick and a hammer candlestick on the weekly time-frame too, and both are above 1.5280, such a breakout is quite likely.